QUEEN ELIZABETH II IS BROKE , HAS JUST £1 MILLION LEFT….
The Royal Family’s fortune is in jeopardy as Queen Elizabeth II is said to be down to her last $1.6m in reserves after royal overspending according to a report published by the Commons Public Accounts Committee on Monday, Jan. 27.
She was once the richest woman in the world (in the 80s) and in 2010 Forbes mag estimated her net worth at around $450 million and now she’s broke? so in three years she spent all the money ????? strange tho ,but read on…..
Following her courtiers’ advice, Her Majesty the Queen’s reserve fund has fallen from £35 million ($58 million) in 2001 to just £1 million ($1.6 million) in 2014. The report states the royal family is “spending above their means and dipping into the reserves…the balance now stands at an all-time low.”
The report also reveals that a number of palaces are in “dangerous or deteriorating” conditions. Forty percent of them, in fact, are “below acceptable standards.” It’s not exactly new information, as Queen Elizabeth II knows that there’s an $82 million backlog in repairs due to tightened government funding.
Taxpayers fund the royal palaces in Britain, comprised of more than 300 buildings. In 2013, the public spent about £31 million ($51 million) renovating and operating the facilities. The report urged the treasury to “get a grip” and help the royal family to prevent “further damage and deterioration.”
According to the report, royal staff members have been forced to catch rain in buckets to protect art and antiquities in some locations. Queen Elizabeth II’s “antiquated” boilers are more than 60 years old.
“The Queen has not been served well by the Household and by the Treasury,” said Margaret Hodge, the labor chairman of the Public Accounts Committee. “We got the impression that they just haven’t tried to make greater savings. Here we are, we’re all in it together, but they are failing to eek better value for the Queen. They are dipping into their reserves in a way that just isn’t sensible.”
Posted on January 29, 2014, in HOME and tagged broke, Commons Public Accounts Committee, Public Accounts Committee, queen elizabeth, Queen Elizabeth II, queen elizabeth is broke, queen elizabrth is broke, queen of england, Royal Family, The Royal Family. Bookmark the permalink. Leave a comment.