By Royal Warrant on 4 July 2006, the Queen declared that the Lord Speaker would have rank and precedence immediately after the Speaker of the House of Commons. The Lord Speaker earns a salary of £104,360, less than the Speaker of the House of Commons, though the Speaker of the House of Commons’ salary includes £81,932 paid for being an MP. The Lord Speaker, like the Speaker of the House of Commons, is entitled to a grace and favour apartment in the Parliamentary Estate.