Entertainment
Little-known clause shields the Queen from a COVID-19 financial hit – Sydney Morning Herald
Profits from a vast property empire will deliver less money to taxpayers but the royal family’s slice will remain the same.
The Queen’s annual payment is worth 25 per cent of the Crown Estate’s profits. The other 75 per cent goes to Treasury.
The estate made a record profit of £345 million in the financial year before COVID-19 struck.
Labbad has warned that the property portfolio which spans farmland, seabeds and some of central London’s most valuable buildings including the grand retail precinct of Regent Street will be affected by the economic downturn.
Rental receipts are down amid a major retail slump and the …
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