Queen of England Gets Taxpayer Bailout - By Law the royal Income Must NEVER Be Reduced Regardless of Economic Reality

Posted by freedomforall 3 years, 7 months ago to Politics
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"Crown Estates, which manages the Queen of England’s portfolio, recently wrote down the value of 17 shopping and leisure centers by 17%, cutting Her Majesty’s net worth by £552 million. As The Economist points out, this is “fairly small beer” set against the £13.4 billion valuation of the Queen’s property portfolio, which includes some of London’s toniest real estate.

But the Queen will not be left out of pocket, since her income — set at 25% of the profits generated by the Crown Estate — will be topped up with a taxpayer bailout. In fact, thanks to the Sovereign Grant Act of 2011, the overall amount given to the Queen each year in order to fund her official duties is never allowed to fall, regardless of what is happening in the broader economy."
SOURCE URL: https://wolfstreet.com/2020/09/26/not-even-the-queen-of-england-is-immune-from-the-commercial-real-estate-fallout/


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