Thursday Sep 24, 2020
Queen Elizabeth II will be seeking support from taxpayers in Britain as her own coffers are reportedly drying up during the coronavirus pandemic.
According to the Daily Mail, the Treasury has decided to extend support to the sovereign by giving millions of pounds from taxpayers’ money to save her from the serious crisis she is currently facing.
The monarch, 94, will be granted 25% annual profits through the Crown Estate which had made an admission last week, about the profits for this year plummeting significantly, in spite of an increase of 0.4% for 2019/20.
The money going to the Queen would have been used for public service if the Treasury didn’t have to bail her out.
Profits from the Crown Estate are put towards the official duties of the monarchy through the Grant for which, funds are apportioned two years in arrears.
For 2021/22, the grant is expected to be £86.2 million.