This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/uk-28030509
The article has changed 3 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Queen's income set to rise to £40m next year | Queen's income set to rise to £40m next year |
| (about 3 hours later) | |
| The Queen's income is expected to rise by more than 5% next year after the Crown Estate announced record profits. | The Queen's income is expected to rise by more than 5% next year after the Crown Estate announced record profits. |
| The Sovereign Grant, which covers the costs of the Queen's official duties, will reach £40m next April. | The Sovereign Grant, which covers the costs of the Queen's official duties, will reach £40m next April. |
| The grant is calculated as a percentage of profits from the Crown Estate, which includes properties such as Windsor Park and much of the UK coastline. | |
| Meanwhile, Buckingham Palace accounts show about a third of the grant is spent maintaining the royal palaces. | Meanwhile, Buckingham Palace accounts show about a third of the grant is spent maintaining the royal palaces. |
| 'Disrepair' | 'Disrepair' |
| The accounts, also published on Thursday, show that more than £4m has been spent on converting offices in Kensington Palace into an apartment for the Duke and Duchess of Cambridge and Prince George. | The accounts, also published on Thursday, show that more than £4m has been spent on converting offices in Kensington Palace into an apartment for the Duke and Duchess of Cambridge and Prince George. |
| The work included the removal of asbestos, new heating, hot and cold water, electrical services and a "simple redecoration". | The work included the removal of asbestos, new heating, hot and cold water, electrical services and a "simple redecoration". |
| The furnishings and a new kitchen had been paid for privately by the Royal Family, a palace official said. | |
| A Kensington Palace spokesman said: "Before the project started, the residence was in a state of disrepair. | A Kensington Palace spokesman said: "Before the project started, the residence was in a state of disrepair. |
| "It was last refurbished in 1963." | "It was last refurbished in 1963." |
| Spending on property maintenance increased by £4.2m to £13.3m, the accounts show. | Spending on property maintenance increased by £4.2m to £13.3m, the accounts show. |
| In January, the Commons Public Accounts Committee warned of a maintenance "backlog" with some properties in a "dangerous or deteriorating condition". | In January, the Commons Public Accounts Committee warned of a maintenance "backlog" with some properties in a "dangerous or deteriorating condition". |
| 'Efficient operation' | 'Efficient operation' |
| Travel expenditure was also revealed, including the £255,000 cost for the Prince of Wales to attend Nelson Mandela's funeral. Palace officials said that was due to the complexity of getting him to a relatively remote location at short notice. | Travel expenditure was also revealed, including the £255,000 cost for the Prince of Wales to attend Nelson Mandela's funeral. Palace officials said that was due to the complexity of getting him to a relatively remote location at short notice. |
| Buckingham Palace said the cost of the monarchy - not including security - was equivalent to just over a penny a week for every person in the United Kingdom. | Buckingham Palace said the cost of the monarchy - not including security - was equivalent to just over a penny a week for every person in the United Kingdom. |
| Under a formula set in 2012, the Sovereign Grant rose to £37.9m in April and will go up a further 5.7% to £40m in the next financial year. | Under a formula set in 2012, the Sovereign Grant rose to £37.9m in April and will go up a further 5.7% to £40m in the next financial year. |
| It is tied to the income from the Crown Estate, which has published record profits of £267m. | It is tied to the income from the Crown Estate, which has published record profits of £267m. |
| Aside from the Queen's income, the rest of the profit goes to the Treasury. | Aside from the Queen's income, the rest of the profit goes to the Treasury. |
| Sir Alan Reid, keeper of the Privy Purse, said public funding of the monarchy had fallen by 8% in real terms in the last two years when maintenance costs are stripped out. | Sir Alan Reid, keeper of the Privy Purse, said public funding of the monarchy had fallen by 8% in real terms in the last two years when maintenance costs are stripped out. |
| He added: "We take our responsibility to run as efficient an operation as possible. | He added: "We take our responsibility to run as efficient an operation as possible. |
| "In our view we think that we do as good a job as possible in terms of trying maximise the value for money." | "In our view we think that we do as good a job as possible in terms of trying maximise the value for money." |