The Queen will receive an extra £2.7 million in funding in 2016-17.

The sovereign grant, provided by Government to the Royal Household in support of The Queen's official duties, will be £42.8 million in 2016-17, the Autumn Statement revealed - up from £40.1 million in 2015-16.

Under the sovereign grant system, the Queen receives 15% of the profits from the Crown Estate property portfolio, two years in arrears.

The income account net surplus of the Crown Estate for 2014-15 was £285,100,000, resulting in a grant of £42.8 million for 2016-17.

As part of the monarch's official duties, the money is used for the maintenance of residences including Buckingham Palace, St James's Palace, and Windsor Castle.