Britain Queen Elizabeth II will get 8 per cent pay hike

London: Britain’s Queen Elizabeth II is set for an 8 per cent pay rise this year, which will boost her funding from UK taxpayers by £6 million.

Latest accounts show that the 91year-old monarch owned Crown Estate profits rose by £24 million and official net expenditure last year increased by 2 million, to almost £42 million.

According to the latest accounts released this week, the Queen and the Royal Family’s official travel cost the UK taxpayer £4.5 million during 2016/17, up £500,000 from the previous year.

The Sovereign Grant, which pays for the salaries of her household, official travel and upkeep of palaces, is to increase in 2018-19 to make up for this rise in expenses. “When you look at these accounts, the bottom line is the Sovereign Grant last year equated to 65p per person, per annum, in the United Kingdom.

That’s the price of a first class stamp. Consider that against what the Queen does and represents for this country, I believe it represents excellent value for money,” said Sir Alan Reid, Keeper of the UK’s Privy Purse.

The Sovereign Grant is paid two years in arrears and is given to the Queen by the UK Treasury.