This is a historical term used to describe income from the Duchy of Lancaster, which is used to meet both official and private expenditure by The Queen.

The Duchy of Lancaster is a portfolio of land, property and assets held in trust for the Sovereign in his/her role as Sovereign. It is administered separately from the Crown Estates.

Its main purpose is to provide an independent source of income, and is used mainly to pay for official expenditure not met by the Civil List (primarily to meet expenses incurred by other members of the Royal Family).