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While the treasury calculates how big the Sovereign Grant should be based on Crown Estate profits, if Crown Estate profits do not increase one year, the monarchy receives the same amount as it did in previous years anyway. Republic tweeted: It was George Osborne and the Coalition government who, in 2011, invented the Sovereign Grant and created a link to Crown Estate profits. But the link is nothing more than a calculation the treasury makes to determine how big the grant should be. And it s only a ratchet clause. If Crown Estate profits fall the grant remains the same as previous years. ....
| UPDATED: 15:21, Sun, Feb 28, 2021 Link copied Sign up for FREE now and never miss the top Royal stories again. SUBSCRIBE Invalid email When you subscribe we will use the information you provide to send you these newsletters. Sometimes they ll include recommendations for other related newsletters or services we offer. Our Privacy Notice explains more about how we use your data, and your rights. You can unsubscribe at any time. The Chancellor will announce the next Budget on Wednesday. Reports have already claimed there will be no pay rise for NHS workers and there is likely to be a freeze on lifetime allowance as Mr Sunak attempts to resurrect the UK’s economy. The COVID-19 pandemic has forced Britain into three different lockdowns over the last year, meaning unemployment levels have shot up. There’s also been the largest UK annual economic shrinkage since records began. ....