Queen to rake in 38 million a year renting out UK coastline for turbines


Prime Minister (20k+ posts)
Tory Chancellor George Osborne is granting the Royals a wind farm windfall worth 38million a year.
The Queen's jackpot was slipped into the measures Mr Osborne announced last Wednesday - as he slashed jobs and benefits for millions.
By scrapping the Civil List and instead giving the Royal Family 15% of Crown Estate profits, the Queen will rake in a fortune from the green energy revolution.
The seabed within Britain's territorial waters is owned by the Crown Estate - and offshore wind farms are about to boom.
The Crown Estate has said profits from wind farms in Britain's waters should rise to 100million annually, bringing 15million for the Royal Family.
In fact, experts estimate that offshore wind farms could within a decade bring profits of 250million a year - giving 37.5million for the Royals on top of their share of earnings from the rest of the Crown Estate's 6billion property portfolio.
There are currently 436 turbines in operation around the UK's 7,700-mile coastline but the number is expected to soar to nearly 7,000 within 10 years.

If industry experts are correct the Royals' budget would eventually more than double under the new funding formula.
Prince Charles has in the past called wind farms a "horrendous blot on the landscape" and is opposed to turbines on land. He has refused to have them on his Highgrove home or on the Duchy of Cornwall estate - yet is said to be keen on placing them offshore.
The Royals currently get about 30million a year from the Civil List and other grants, an amount now frozen until 2012 when the new Sovereign Support Grant will begin. This will avoid the scrutiny the current system involves.
Pressure group Republic, which campaigns for a more accountable Royal Family, said: "It is wholly inappropriate that the Palace should have such a direct interest in a subject like wind farms."
Buckingham Palace said: "Nobody yet knows how the Sovereign Support Grant is going to work. Details have not yet been finalised with the Treasury."
The Crown Estate said: "We only expect to see a return on this investment from 2015 onwards when revenue from offshore wind should increase significantly."
Power suppliers pay the Crown Estate a rental fee to run their cables along the seabed from the turbines to the shore. They also hand over a percentage of profits.
Household energy bills are expected to rise to pay for the 75billion expansion of wind farms.