Even The Buckingham Palace Suffers Recession
The Royal Family is said to be going through a financial crisis. There has been a dip in the reserves of the royal family. UK’s Queen Elizabeth seem to face trouble on the financial front. Read on for more details.
Royalty comes with a price. The privilege of having huge bucks may not continue in future for the Royalty. Reports are in abundance that the Royal Family had overspent the revenue that was given as allowance. It grieves us to report that a number of palaces are said to be in despair.
Sources confirm that the coffer of the Royalties has been reduced to 1.6 million pounds in the financial reserves in their current account. Such consequences was due to the over-spending in the previous financial year, NBCNews reported.
It has been said that the household needs to improve their management and planning regarding budgets, so that it could sustain longer. Experts of the Public Accounts Committees had opined that the Treasury should be actively involved in reviewing the receipts of the household. It was said that the Queen of Britain falls under the most influential people’s list in Britain. The Royalty savings was nothing less than 58 million pounds, and the current decrease in the saving’s value could actually have a negative effect on her overall stature, DailyNews reported.
Forbes has it that Queen Elizabeth is the 41st Most Powerful Woman in the world. The reports of the PAC was published on Tuesday and it suggested that the finances of the Royal household should be scrutinized by experts. The complete accounts of their assets are difficult to retrieve. It would be a wild guess to conclude on any issue at the moment. As far as Queen Elizabeth is concerned, she has a lot of properties and hence an impeccable assessment is hard to be done, as per TheGuardian.
Rumors are on reel that the Royal Household has slashed 5% of their expenses over the last five years. We hope slashing of expenses would not slash down their Glamour Quotient.
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