I find this hard to believe. The Royal family has been in “power” in England for decades. The Queen and her family own properties all across the world and live a lavish life thanks to the people and the government. So how can they be close to broke? Or broke by their standards?
The British House of Commons’ public accounts committee released a 35-page report that said the queen received 31 million pounds, or about $50 million, from taxpayers for 2012-2013, but overspending had whittled down the royal Reserve Fund to 1 million pounds at the end of that period.
The report criticizes the queen’s household and the treasury for its financial planning and management.
“It is not clear to us that the Treasury is sufficiently challenging in its scrutiny of the Household’s financial affairs, or that the new funding arrangements sufficiently incentivise the Household to find greater efficiency savings,” the report states.
It’s not the first time the royal family has been told to tighten its belt. Last October, the public accounts committee lectured the queen’s treasurer, Sir Alan Reid, about why the royals exceeded their budget of 31 million pounds and spent 33.3 million.
Read more about how the Queen spent her money here
Source: ABC News
