Sovereign Grant Act 2011: Report of the Royal Trustees on the Sovereign Grant Review 2016 November 2016 Sovereign Grant Act 2011: Report of the Royal Trustees on the Sovereign Grant Review 2016 Presented to Parliament pursuant to section 7(4) of the Sovereign Grant Act 2011 November 2016 This document is available in large print, audio and braille on request. Please call +44 (0)20 7270 5000 or email public.
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[email protected] ISBN 978-1-911375-36-4 PU1988 Printed on paper containing 75% recycled fibre content minimum Contents Page Chapter 1 Introduction 3 Chapter 2 Sovereign Grant Act 2011 5 Chapter 3 Sovereign Grant Review 2016 7 Chapter 4 Review of the financial management of the Sovereign Grant 9 2012-2016 Chapter 5 Expected costs for the next 5 year period 2016-2021 11 Chapter 6 Buckingham Palace reservicing 13 Chapter 7 Conclusions of the Sovereign Grant Review 19 Annex A Summary of Sovereign Grant income and expenditure 2012- 21 2016 1 1 Introduction 1.1 Since 1760, when George III agreed to surrender the net income of the Crown Estate to the Exchequer in return for a fixed annual payment, the government has provided financial support to the Sovereign.