Although the sun might never set on her empire, Queen Elizabeth II might have to skip on some of her more pricey luxuries as she is down to her last million pounds. In the last 13 years of spending, British lawmakers have found that their monarch has spent enough money to bring the Royal Household finances to historic lows.
As well, some of the Queen’s estates are in remarkably poor condition. With millions of pounds of needed repairs that are long overdue, it seems as though the Royals are in some hot financial water.
Fingers have been pointed at a variety of different causes for the current monetary turmoil. Various Members of Parliament have accused the Queen herself for overspending and exceeding an already lavish budget.
However, others have suggested that it is not the monarch and the royal family who are at fault, but rather their financial managers and assistants. After all, who really thinks it’s the Queen’s job to be careful with her money? No, she has people for that.
All jokes aside, this is no laughing matter in British politics. The whole escapade has given even more credence to the anti-monarch movement who already thought that the monarchy was an unnecessary (and evidently expensive) formality. The most recent numbers show that a whopping third of all people in Britain could do without the pomp and circumstance that is the monarchy. And it is the young people who are most dissuaded with their figureheads as nearly half of those aged 18-to-24 would abolish the monarchy if given the chance.
So what is a Queen to do? With Elizabeth II on her last million, it will be interesting to see what the solution will be. Some have suggested creating an emergency fund is the answer. This fund would cover the necessary repairs to the estates of the royal family and a reasonable minimum to support the crown until its next pay-day from the British tax payers.
Other ideas, sometimes satirical ones, have been thrown around. For instance, decreasing the number of vacations or service staff could be one place to start. Or perhaps a little less tea and crumpets for Her Majesty may do the trick.
Back to a serious note, another option would be to increase revenue. If the Queen were to open up Buckingham Palace to visitors more often, the crown would be able to finance itself somewhat more success.
As well, it is not fair to say that the Queen and her ilk are the only Brits feeling the austerity crush. In fact, austerity measures have reigned in spending (pun intended) for the past 5 years across the government and have affected the UK in a tangible way.
Regardless of what the next steps are for the monarchy and the tax payers of the United Kingdom, it is unlikely that Queen Elizabeth II and the royals will be busking for some extra dough. Odds are that combinations of austerity and funding will keep the Windsor’s afloat. Despite being on her last million, it is difficult to imagine the Queen going bankrupt.
By Brett Byers-Lane