Friday, February 7, 2014

Report shows Queen down to her last million

The Queen's courtiers have been advised to reign in the spending. Picture: Getty. Source: Getty Images

LEAKY roofs, ancient boilers and crumbling palaces: One is not amused. 

Now the Queen has been hit with the news her reserve funds have fallen to a "historic low" of less than Pound1 million ($A1.9 million), The Telegraph reports.

The figure is significantly lower than the Pound35 million ($A66 million) the Palace had at its disposal in 2001.

The situation has led MPs to advise the Palace on how to save cash, after the government managed to slash its energy bills by one third.

It comes amid reports Buckingham Palace and Windsor Castle are in need of urgent repairs, with buckets used to catch raindrops and ancient boilers contributing to huge energy bills.

Labour chair of the committee Margaret Hodge said the Treasury has a duty to be "actively involved" in financial planning for the Palace and have failed to oversee matters properly.

She advised the Royal household to "get a much firmer grip" on plans to address the maintenance backlog.

A spokesman for Buckingham Palace said the repairs were a significant priority and the Royal household had doubled its income to more than $A22 million since 2007.  28 Jan 2014

A news story that is extremely difficult for the lay person to ascertain whether it is truly accurate, as there are factors involved where the public (and government as well) does not have access to certain information.

Irrespective of the 'official' figures, the Queen is factually part of the group of the worlds richest people, which will never change.

As an example, the Queen is the sole land owner of ALL the land in the Commonwealth of Australia, something that was (deliberately?) not mentioned in the above article.

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