Queen Elizabeth II is getting a 78% raise

Queen Elizabeth II is getting a large pay bump to help pay for refurbishments to Buckingham Palace.

Queen Elizabeth last year received $54.6 million in tax-free income from the state for her annual "sovereign grant." The payment will go up this year by 78 percent to $97 million.

State payouts are expected to remain at raised levels during the 10-year planned face lift of Buckingham Palace.

Queen Elizabeth uses the money as her expense account, covering upkeep of the royal palaces, among other things.

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