Economy News Headlines - Yahoo! News: Queen scores record profit from booming London property

Economy News Headlines - Yahoo! News Get the latest economy news headlines from Yahoo! News. Find breaking economy news, including analysis and opinion on top economy stories, photos and more.

Queen scores record profit from booming London property Jun 26th 2013, 23:05 LONDON (Reuters) - Crown Estate - owned by Queen Elizabeth - on Thursday said it made record profit in the year to March, thanks to the strong performance of its central London properties. Crown Estate's 5.2 percent rise in profits to 252.6 million pounds gives the queen a 38 million pounds 2014/15 payout, pegged at 15 percent of the total by a 2012 law designed to link her income to the UK's economic health. The rest of the profits go to Britain's Treasury or finance ministry. Chancellor George Osborne on Wednesday detailed 11.5 billion pounds of spending cuts. ... Media files: 2013-06-26T230550Z_1_CBRE95P1S5T00_RTROPTP_2_HORSERACING-ASCOT.JPG (image/jpeg)

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