Queen gets record-low pay rise

They may have to start counting the pennies at Buckingham Palace.

Queen Elizabeth II changed her funding with the Royal Family six years ago. The UK Treasury said in its 2018 Budget this week that Her Royal Highness will get £ 82.4 million ($ 147.8 million) for the next financial year to fund her monarch duties, at 0.2 percent from the prior 12 months, trailing September's 2.4 per hundred annual inflation rate.

The Queen, 92, Britain's longest-reigning monarch, receives public funding through the income of the oversees the land, palaces and jewels owned by the sovereign purse. She received 15 per cent of The Crown Estate's profits from the Treasury between 2012 and 2016, but the rate rose to 25 percent for Buckingham Palace's decade-long overhaul. Based on the UK's 2017 population of 66 million, she costs each citizen £ 1.20 on average.

A Treasury spokesperson declined to comment on the latest figures. He said the government had to act in favor of Buckingham Palace. "It's an iconic building that attracts thousands of tourists that were at serious risk of fire and flooding."

Adam Pritchard, spokesperson for The Crown Estate.

Separate to The Crown Estate, assets owned directly by the Queen and her immediate family include a stud farm and the world's most valuable stamp collection. She has a net worth of at least $ US420 million ($ 593 million) from her direct holdings, according to the Bloomberg Billionaires Index.

Bloomberg