The Sovereign Grant, or the rough equivalent of the Royal Family's annual benefit payment, will reach £40m next year, thanks to the Crown Estate generating record profits.
The Crown Estate made a surplus of £267m last year, according to its latest accounts, which means the formula used to calculate how much the Royal Family is paid lets their allowance rise from £37.5m to £40m per year from 2016. The rest of the Crown Estate profit goes to the public kitty, so having a handful of posh people touring the world and living in castles does actually make the UK quite a profit. [BBC]
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