Queen Elizabeth II is set to receive 42.8 million pounds from the Treasury in the 2016-2017 financial year.
The amount is nearly £12m more than the Queen received in 2012.
In the meantime, the British taxpayers will pay an extra £2.7 million to fund the royal family.
According to the Sunday Times Rich List 2015, Queen Elizabeth’s estimated wealth is £340m, up £10m from the previous year.
Critics say funding of the Royal family has already been running out of control as many Britons reel from tough austerity measures implemented by the government.