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Carl Court / AFP - Getty Images
After more than five decades on the throne, view images from the extraordinary life of Queen Elizabeth II.
LONDON - Britain's Queen Elizabeth has another reason to be cheerful in her Diamond Jubilee year - her annual pay is about to jump by 20 percent to 36 million pounds ($56 million).
Her property holdings, known as the Crown Estate, posted a record profit of 240.2 million pounds ($377.4 million), a net rise of 4 percent in the year through March 2012 largely due to strong tenant demand for its shops in the upmarket Regent Street and St James's districts of London.
At a time when Britain is in recession and many families are feeling the pinch of higher household costs and taxes, the Queen's allowance will rise to 36 million pounds from 30 million pounds, the level at which it was frozen in October 2010 under new laws which peg her pay to the estate's profits.
Her Majesty celebrates 60 years on the throne.
"It's a great set of results and I'm sure everyone's going to be happy," Crown Estate Chief Executive Alison Nimmo said.
The 85-year-old queen celebrated her 60th year on the throne this month with a 1,000-vessel flotilla on London's River Thames and nationwide street parties.
Read more news about Britain's royal family on TODAY.com
She has been paid by taxpayers through an allowance set by Parliament and via other government grants since King George III ceded all property profits to the Treasury in 1760.
Queen Elizabeth II is celebrating 60 years on the throne. Watch archival footage from her childhood and ascension to the throne to the present day.
The Crown Estate pays all of its profit to the Treasury, or finance ministry. Under new laws that come into effect in 2013-14, the monarch's pay is calculated as 15 percent of the estate's profits from two years prior.
Prince William turns 30, gets $15.5 million Diana inheritance
The changes were designed to ensure the queen's pay would rise and fall with the health of the British economy, which this year entered its second recession since the start of the global financial crisis.
Used mainly to pay the Royal household's staff as well as for items like laundry, stationery and official functions, her 2013-14 pay will be the highest since 2008 though still less than half of her 1991 pay of 77.3 million pounds ($121.2 million).
The Crown Estate, which owns a mix of wind farms, retail parks and most of Britain's seabed in addition to its central London properties, outperformed the industry's Investment Property Databank (IPD) benchmark index due to strong international interest in the London property market and the country's growing dependency on renewable energy.
While more than a century separates festivities marking Queen Elizabeth II's 60 years on the throne from those honoring her predecessor Queen Victoria, surprising similarities connect the commemorations. NBC News' Jim Maceda reports.
The value of its property portfolio rose 7.4 percent to 7.6 billion pounds from the previous year, while the total return, which includes rental income, was 16.8 percent, outperforming the IPD index by 10.4 percentage points.
Its London projects include the 500 million pound ($784 million) regeneration of the St James's district, where it will redevelop almost 300,000 square feet of new shops, offices and homes.
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The number of friggin' idiots who are either incapable or unwilling to read, but who are more than willing to spout completely uninformed nonsense is appalling! I would think they would be embarrassed.
Follow along, if you can: the Royal family owns a lot of rental property. All of the income from that is given to the government. The government gives 15% of it back to the Royal family. The Royal family then pays their household expenses from that, including the hundreds of employees. It was always the Royal family's money!
thank you Rick, we should have a similar set up here...lol
Nothing wrong with being rich. I wish I had BIG bucks. It's better if you work for it though, not like the Queen.
I see a lot of grousing here about the Queen. Most of you are calling for the British government to cut off her salary or some such nonsense. First of all, she is definitely not queen of the United states, so her salary is not really your concern. Had you actually read the story, you would not be criticizing her at all. Your time would be better spent in getting rid of all the perks afforded to our government employees in the White House and congress.
Well, at least our government employees work including those we vote in work.
Oh really? What evidence do you have that our government employees work?
This is why this country is in the state it is, the country is being sucked dry by these people....Time to send a message to this royal family are you listening english people....How much more can you bare?
The British are not known for baring much at all. The French however...
I think we need to focus on the Monarchy in the White House. Worry about that problem, not England's. We are moving away from a democracy in favor of a republic. People, America is slipping.
Royal Family is a business .. sadly it makes a profit .. and they cash in.
Thing that got me was the one time i stepped into the shop on the Block of the palace .. Royal Shop or whatever with Queen and Family things to buy ... THEY dont have to pay taxes on it ... so take that for what it is worth ... i presume they dont pay taxes on anything ?
Royal Family owns lots of property......read the article! ALL the monies go to the government. The govenment then "pays them 15% of their own money". So, why should they not be paid from their own money?
Elizabeth II, the mother of all Welfare Queens.
i guess when the poor and middle class are all broke and unemployed and cannot pay taxes to these blood suckers, then all will be even. then we can start over.
UP THE RA BITCH...
WAIT!! "Girl Scout" just look at her face when she is mad, it's like she wants to start a war.
Right! How many wars has Queen Elizabeth started? I haven't heard that one yet!
It's the will of the people whatever direction we're heading; we vote our people in.
WTF?
Truely! we are the slaves for these people they know it and do not care.
WE HAVE THE SAME HERE it is CALLED REPUBLICANS AND TEA-PARTY!!!! They are SQUANDERING our TAX dollars SO THAT THEY GET RICH and RICHER and have the same ALLOWANCE SYSTEM as our AUTOMATIC INCREASE THAT THEY VOTED IN FOR PAY INCREASES. And all OFF THE BACKS OF THE MIDDLE and LOWER INCOME EARNERS !!!! With ROMPNEY the CLOWN if in office THEY WILL HAVE THE FINAL SAY WHO IS RICH AND WHO CAN NOT GET RICH!!
The QUEEN and all her cronies are the same here in the U.S. Just slightly set-up differently to benefit THE CONGRESS and their cronies!!!
THIS WORLD AT THE TOP FREE EARNERS (using public TAXES then goes private PERSONNEL) AND GETTING WORSE IS REALLY PATHETIC AND IMMORAL !!!!
good for her! the british monarchy are very generous people, they are very devoted to their country. Now maybe she can get a new crown instead of always dragging out the 500 yr old thing. I very much admire that woman. All the best to her, With love from Minnesota.
When will the human race wake up, they keep us fighting amongst ourselves while the rich continue to rake in billions of dollars each year and their great-grandchildren will never work yet we allow it and continue this insanity. Absolutely ridiculous that this is allowed to continue and what has she done to deserve a raise considering she has thousands of servants!
James, they no longer have "servants" they have staff, that are paid. Read the article. I"ll tell you what she has done or more over was done before her time, INVESTMENTS, that's what. And to top it off the families profits are GIVEN to the Treasury, she receives 15% of that back. If those monies are being miss-handled the Queen and her family are not to blame. Britian also vote in there politiions and have the same opertunity to vote them out.
The U.S. Democracy is different than the U.K. Monarchy. Long live the Queen. London 2012. I have one question, why didn't 0ne of her grandsons train to be crew on the Panavia Tornado strike aircraft. No Instructor would wash out that student.
Nothing but a pack of thieves living off the stolen and plundered riches of the lands they conquered and the ships laden with gold and jewels their pirates confiscated.
The English were the best sailors and pirates. They brought the loot home to the Tribal Chieftan and his consorts. The " Crown Jewels" are the booty acquired through the centuries of raping places like India, South Africa and the Spanish galleons returning from South America.
America fought 2 wars with these inbred, slope headed idiots, in order to be free of their ridiculous worship of Kings and Queens. But the stupid English are still at it. Giving tribute to this old hag and her brood of morons, while the majority of them live in poverty and have the periodic riot to protest the inequality.
They ought to take the entire lot of them up to the Tower of London and lop their worthless heads off and divide up the loot amongst themselves. But that would make too much sense!
Here, we only elevate the deserving to the dizzy heights of the Queen, like sports players, movie stars and Oprah. We even pay for stadiums with tax payer money and give them to private teams.
From across the high seas there came a loud POP-- twas the snooty Brits pulling there head out of their ASS and finally realizing that this "King and Queen" stupidity should go! I must be dreaming.
NO Man is better than the next. NO Man should bow to another. We are ALL equal. Wake up people.
With so many Brits out of work and hurting, it doesn't make sense to give the Queen a raise. She doesn't need the money. She won't notice it or miss it one way or the other. The people out of work would. This is another example of top executive pay gone insane.
When you read past the headline you will realize that she didn't get a "raise" and it is not from the taxpayers. The Royal Family owns properties, all the rents are paid to the government. The government pays them 15% of the profits that their rentals bring in. It is a "raise" in the sense that the rentals are all rented! Those of you who think "headlines" are the story, need to educate yourselves up a bit.
Off with her head!!!
Just goes to show you that once your in the money circle you get paided well. I dont think she needs the money but if the government wants to give it to her so be it. It wont make the poor any poorer it will just upset them more and you know what that leads to, but thats another story.
You go Queen E you got it like that, I aint mad at ya girl
THE MASSES OF PEOPLE(HUMAN BEINGS) around the WORLD, are quite frankly being DICTATED WITHOUT KNOWLEDGE and TRANSPARENCY!!!!
The UPPER CLASSES around the world KNOW THIS and finally have taken over the DEMOCRACY that they supposedly say exist when in FACT DEMOCRACY no longer exist BUT UNDER THE POWER OF CAPITAL COMMUNISM (The very ones who are dictating the outcome of events for POWER & CONTROL)
I hope the STUDENTS OF GOVERNMENT STUDIES if you read this you will surely UNDERSTAND.
I JUST WISH THAT THE MASSES OF HUMAN BEINGS OUTSIDE OF THE UPPER CLASSES WOULD UNDERSTAND ????? And demand change which some Countries have already begun mainly the MIDDLE EASTERN STATES!
Big Whoopee!
A Frog has spoken!