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As UK Goes Through Austerity, The Queen Gets A Twenty Percent Raise

By Annie-Rose Strasser on June 21, 2012 at 11:55 am

"As UK Goes Through Austerity, The Queen Gets A Twenty Percent Raise"

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Despite the fact that England has just entered a double-dip recession, the Queen will be getting a twenty percent raise this year, bringing her annual income up to ₤36 million — or $56 million.

The ostentatiousness of the Crown already serves a sharp contrast to the average Briton, whose earnings have dropped 3.1 percent, back to 2005 levels, because of austerity measures. It doesn’t help that the Queen is paid with taxpayer funds.

But a newly-calculated system makes it so that, “the monarch’s pay is calculated as 15 percent of the estate’s profits from two years prior.” The rest of their profits go to the finance ministry. This supposedly ties the earnings and income of the Queen more closely to the country’s economic performance.

And that’s bad news for the Queen too. The very same austerity measures that hurt British salaries are damaging the country’s gross domestic product overall. In fact, the U.K. is performing even worse than the rest of the Euro zone:

The six million pound raise is also the Queen’s first since 2010. Of course, it’s still a much, much greater raise than most English could ever hope for.

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