How the Queen could bag herself a cool £100M a year thanks to a new auction | WHAT REALLY HAPPENED

How the Queen could bag herself a cool £100M a year thanks to a new auction

Her Majesty could bag herself an extra £100million a year following an expansion in offshore wind farms. According to MailOnline, auctions for the offshore development officially began last week. This is due to a 2012 move by then Chancellor George Osborne to replace the Civil List with the Sovereign Grant.

The new Grant gives the Queen 25 percent of profits from the Crown Estate, which owns the seabed within British territorial waters, which extend almost 14 miles from the coast.

The Estate charges rent equal to two percent of revenues for use of seabeds for wind farms and collected £41million last year.

It will also collect “option fees” from the successful bidders for the five new concessions.

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