The Sovereign Grant explained
Tuesday 25 June 2019 10:48, UK
The Core Sovereign Grant, which helps fund the work of the Queen and her household and pays for other activities like official royal travel, increased by 拢3.6m to 拢49.3m in 2018-19.
The total Sovereign Grant for the last financial year was £82.2m - made up of a core grant of £49.3m and an extra £32.9m to help pay for the 10-year £369m refurbishment project of Buckingham Palace.
The remaining £15.2m, after paying £67m for last year's official royal expenditure, was transferred to the Sovereign Grant reserve to fund future palace work.
The Royal Family's Core Sovereign Grant is based on 15% of the net surplus of the crown estate - which has recorded a record £343.5m profit for the Treasury coffers during the last financial year.
This means the 2020-21 grant is expected to be set at £85.9m.