facebook
twitter
rss
account
search
search
 

Queen of Britain gets 5 percent raise

June 27, 2013 at 8:40 AM   |   Comments

LONDON, June 27 (UPI) -- Britain's Queen Elizabeth will get a 5 percent raise in her income based on an increase in profits of the Crown Estate, officials said.

The queen's income will increase to $55.9 million in 2014, up from $55.2 million, the BBC reported Wednesday.

The Crown Estate, from which the queen is paid, saw an increase in its profits of 5 percent to $386 million, the estate said. Some of the profits will also go to the Treasury to aid the nation's finances.

The value of the Crown Estate is $123.8 billion, and while it is owned by the Crown, it is not the private property of the queen, the BBC reported.

"[Thursday's] results are a ringing endorsement of the quality of our portfolio, our active asset management and our highly skilled team," said Alison Nimmo, chief executive of the Crown Estate.

"Despite challenging market conditions, we are well placed as a business with a clear vision and investment strategy, great partners and a strong balance sheet," she added.

Topics: Elizabeth II
© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Tesla could face sales ban in Michigan Tesla could face sales ban in Michigan
2
Early completion of refit of Italian aircraft carrier Early completion of refit of Italian aircraft carrier
3
Russia doesn't fear Azeri gas, scholar says Russia doesn't fear Azeri gas, scholar says
4
Europe must drop the euro, Germany abandon mercantilism Europe must drop the euro, Germany abandon mercantilism
5
British Reaper UAVs join the fight against Islamic State British Reaper UAVs join the fight against Islamic State
Trending News
Around the Web
x
Feedback