The Bill makes changes to the way in which the monarchy is funded. It replaces the Civil List and other grants that support the Queen’s official duties with a new Sovereign Grant, based on a percentage of the profits of the Crown Estate.
The new grant is designed to deliver at first a broadly similar level of finance in cash terms to what is available at present. There are mechanisms for adjusting the level in future, and for using any significant surplus as a means to reduce the grant. The Sovereign Grant is intended to be a typical government grant that will lead to the royal finances being audited by the National Audit Office, and subjected to full parliamentary scrutiny.
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