The Queen will receive a £6 million pay rise from public funds

Queen Elizabeth II laughs as she watches the racing at Epsom Racecourse

The Queen also earns income from the Duchy of Lancaster, a private estate of commercial, agricultural and residential properties that dates back to 1265.

He explained: "When you look at these accounts, the bottom line is the Sovereign Grant a year ago equated to 65p per person, per annum, in the United Kingdom".

Buckingham Palace said Tuesday the "sovereign grant" will be around $138 million Cdn - an increase of more than $10 million Cdn.

Alan Reid, Keeper of the Privy Purse, says the royal family costs each taxpayer about 65 pence per year (NZD$1.14), which he calls "excellent value for money".

It is understood the increase will help fund the £370 million refurbishment of Buckingham Palace, which includes replacing old electrical and plumbing systems.

Income of Queen Elizabeth II of great Britain has grown nearly twice, to 82 million pounds.

"The project seeks to prevent a serious risk of fire, flood and damage to both the building and the priceless Royal Collection of art belonging to the nation", the U.K. Treasury said previous year.

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

The Sovereign Grant, a pool of government money, covers official outings by the queen and royal family. "That against what the queen does and represents for this country, I believe it represents excellent value for money", he said.

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The grant increase is based on profits from the Crown Estate portfolio, a huge property portfolio worth more than 12 million pounds.

The BBC reported that £288,697 was spent on the royal train for just 14 trips (each costing more than £15,000) in 2016/17.

The monarch's "Sovereign Grant", the amount Queen Elizabeth II receives from taxpayers, is then calculated as a percentage of Crown Estate profits.

"The grant has risen 167 per cent since 2012".

Prince William And Kate's trip to Bhutan cost £98,000.

The most expensive journey was a two-day trip from Windsor to Lancashire and Yorkshire, made by Prince Charles, that totalled £46,038, costing £95.32 per mile.

Republic, which campaigns for an elected head of state, published its own report on royal expenses and claimed, when security and other costs are included, the annual bill for the monarchy is nearer £345 million.

"When our police, [health care system], schools and fire services are struggling", Republic CEO Graham Smith told CNN Tuesday. "And this official figure disguises the real annual cost of £345m".

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