Queen Elizabeth loses £10m of income after closing Buckingham palace to visitors due to covid-19

Queen Elizabeth II has lost £10million in her budget as a results of the pandemic.Buckingham Palace published on Wednesday, June 23, that it had lost fair over half of its annual earnings originate air of Authorities funding after closing its gates to guests. Earnings plunged from £20.2million in 2019/20 to £9.4million in 2020/21. Within the intervening time, its property upkeep bill soared from £38.4million to £49.5 million as share of its deliberate upgrade of the Queen’s legit assign.The sovereign grant, cash given to the monarch by the UK Authorities which is basically based on the earnings surplus from The Crown Property two years within the past, increased by £3.5million to £85.9million all the intention by 2020/21.It used to be comprised of a core a part of £51.5million that funds the Queen’s legit tasks and her household, plus an further £34.4million to pay for reservicing costs at the palace.In all, the monarchy price the British taxpayer £87.5million in 2020/21, an make better of £18.1million from the old financial year. Within the intervening time an surprising £2.4million fee from the Duke and Duchess of Sussex, Prince Harry and Meghan Markle saved the palace from having to dip into its savings better than it feared. Sir Michael Stevens, keeper of the privy purse, talked about on Wednesday that palace workers had ‘tightened their belts’, lowering costs across all areas with out job losses, including a pay and recruitment freeze.   The post Queen Elizabeth loses 10m of earnings after closing Buckingham palace to guests due to covid-19 appeared first on Linda Ikeji Blog.

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