Elizabeth II Urged to Cut Costs

Elizabeth IIElizabeth II has been urged by the British government to cut costs in her household due to financial problems in the country. Parliament also wants the queen of Great Britain and Northern Ireland to find ways to bring in more money.

According to Members of Parliament (MPs), the budget for the British royal family is at an all-time low. There is just £1 million left, and the palaces around the country are “crumbling.” The advisors to Elizabeth II are failing to help her manage her finances correctly, the Public Accounts Committee argued. It is going to leave problems for the next monarch, whether that is her son Prince Charles or grandson Prince William.

The committee also found that her advisors had cause the queen’s reserves to drop from £35 million in 2001.

Government departments in the United Kingdom have been forced to cut their budgets by a third. There have been some severe cuts to the defense budget, leaving many members of the Armed Forces unemployed. However, the royal family has only made five percent cuts to the budget since the recession in 2008.

The Treasury has also been held accountable for the actions, and been told to “get a grip” by the committee. If something is not done about the overspending, it will lead to further deterioration of the palaces.

While Elizabeth II is being urged to cut costs, it was noted that she was looking for a new housekeeping assistant. There are no details of the hours that the new applicant will need to work, but it does offer a £14,400 yearly salary, which is about $23,800. That is much less than the average full-time salary in the United Kingdom, which sits around £25,000 ($41,467). Roles for the new applicant involve looking after the London residence, as well as running baths and dressing the monarch. The successful applicant will also work closely with the rest of the royal family from time to time, so confidentiality is a must.

The royal family have been accused of not doing enough by the committee. Chair of the committee, Margaret Hodge, explained that the royal family could raise more money by opening Buckingham Palace more often and letting in more visitors. It is one of the biggest attractions for people visiting London, but is only open 78 days in the year. Half a million visitors are allowed in during that time.

Reports from the committee’s decisions does not include the various sales that are brought in through other items with the royal family symbols or images. There are various tea sets, coins and dolls sold throughout the year with the likeness of various members of the royal family. Whenever something major happens, people from all around the world flock to London to witness the events. Some of the most recent events have included the birth of Prince George Alexander Louis and the wedding of Prince William and Kate Middleton.

The queen currently receives about £31 million ($51 million) from taxpayers every year. The government is now urging Elizabeth II to cut costs and spend that money wisely.

By Alexandria Ingham


Financial Post

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One Response to "Elizabeth II Urged to Cut Costs"

  1. MacRiada   January 29, 2014 at 4:11 am

    “the queen of Great Britain and Ireland”

    She is not the Queen of Great Britain AND Ireland.

    The Republic of Ireland is an independent state, and is not a part of the Commonwealth.

    Accordingly, she is the Queen of the United Kingdom of Great Britain and Northern Ireland, and of Her other Realms and Territories and Head of the Commonwealth.



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