The Queen’s household finances were at a “historic low” with just £1 million left in reserve, MPs said on Monday. Her courtiers were advised to take money-saving tips from the Treasury after a report by the Commons public accounts committee found that advisers were failing to control her finances while the royal palaces were “crumbling”. MPs said they overspent to such an extent that her reserve fund had fallen from £35 million in 2001 to just £1 million today.
MPs on the committee said the Treasury must “get a grip” and help to protect the royal palaces from “further damage and deterioration”. Buckingham Palace and Windsor Castle are reported to be in urgent need of repair. Staff must catch rain in buckets to protect art and antiquities, while the Queen's old boilers were contributing to bills of £774,000 per year. Buckingham Palace spokesman said that repairing the royal palaces was a “significant financial priority”, and that the Royal household had almost doubled its income to £11.6 million since 2007. (by Steven Swinford)
meh. I don't really get the whole point of having a king and queen to begin with...especially when that country is run by the Prime Minister and parliament.
Oh well.
