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article imageQueen Elizabeth received 500,000€ of EU subsidies in 2008

By Michael Cosgrove     May 1, 2009 in Business
The Queen, one of the richest women in the United Kingdom, received the money for the private land around the Royal Residence of Sadringham according to the British Agricultural Ministry, which recently released the figures.
The 500,000 €, the amount of the subsidies she received, is worth around 450,000 pounds, or $665,000 U.S.
Her fortune is estimated to stand at approximately 240 million pounds sterling, which puts her in 214th place if a recent Sunday Times classification is to be believed. This sum does not include all of the properties and art she inherited as Queen.
She qualifies for EU subsidies under the terms of the Common Agricultural Policy, the ‘CAP’, because she is treated as would be any other farmer or land owner who meets CAP criteria.
Other members of the Royal Family also receive CAP subsidies.
Prince Charles, for example, heir to the throne and Duke of Cornwall, received over 95,000 pounds for the Duchy itself, as well as a further 86,000 pounds for his farm residence there. A total of over 180,000 pounds for 2008.
The Duke of Windsor, Great Britain’s third richest man with a fortune estimated at some 6.5 billion pounds, received subsidies totalling 486,000 pounds for his farms and properties.
But these people are far from being the biggest beneficiaries of EU subsidies in the United Kingdom.
The giant agroalimentary groups Nestle and Tate and Lyle received 1,018,459 pounds and 965,796 pounds respectively.
All in all, the United Kingdom received over 2.6 billion pounds of EU subsidies in 2008.
CAP financing accounts for around 45 percent of the total EU budget.
The interest shown in the Queen’s EU subsidies is not new. Although Buckingham Palaces does not usually discuss the Queen’s financial affairs, a spokesman said a while back, on the subject of her EU subsidies, that "The Queen is a landowner and a farmer. She receives subsidy, just as any other farmer would do."
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