Queen to make a mint from profits split

George Osborne announced this week in the spending review how the household’s budget would fall by 14 per cent in the coming years before a new sovereign support grant started.

The grant will be linked to the 6.6bn Crown Estate but it emerged yesterday that the Treasury was considering allocating about 15 per cent of the profits from the large property and land portfolio to the royal budget.

The two main areas of taxpayer funding for the household – the Civil List and grants-in-aid for royal travel, palace maintenance and communication – will fall from 34m in 2009-10 to about 30m in the 2012-13 financial year – a reduction of 14 per cent.

But if the Crown Estate hits its stated target of 250m profit per year, the household’s allocation would be 37.5m.

Crown Estate properties include much of London’s Regent Street to Ascot Racecourse in Berkshire.