Queen Elizabeth II Will Get 78 Percent Pay Increase from Government
Britain's Queen Elizabeth II is reportedly getting a 78 percent pay increase in two years' time, which equates out to £82.2 million ($105 million).
According to reports, the 91-year-old queen is expected to have a huge pay raise from the government. She received £42.8 million ($54.6 million) last year, which means in 2019 she will get almost double her previous income.
The Queen's heir, Prince Charles, also received a 1.2 percent increase in pay, amounting to £20.7 million. His tax bill was cut by 5.1 percent as well.
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For the uninitiated, the taxpayer-funded Sovereign Grant pays for the costs of the royal family's salaries. It is also responsible for covering the upkeep of royal palaces and the family's official travel expenses. The grant is expected to be £82.2 million in the next two years.
Queen Elizabeth II's official expenditure is funded by a percentage of the Crown Estate profits. News of the queen's pay increase comes after accounts revealed that her official net expenditure in 2016 increased by £2 million to nearly £42 million.
Sir Alan Reid, the official Keeper of the Privy Purse (also known as the Queen's treasurer), said the Queen's £42.8 million state grant from the last fiscal year amounted to 65 pence ($0.83) per person in the U.K.
"When you consider that against what the Queen does and represents for this country, I believe it represents excellent value for money," Reid stated (via CNNMoney).
Republic, an organization that strongly opposes the existence of monarchy, believes otherwise. The group estimates that around £345 million ($440 million) is being spent by the government each year to keep up with the royal family's expenses. One-third of that is allotted to the family's security needs.
"When our police, [health care system], schools and fire services are struggling, how can we continue to justify this huge waste of money?" said Graham Smith, CEO of Republic.
