Cebu_4_2
28th January 2014, 02:14 PM
Queen down to her last million due to courtiers' overspending, report finds
Report by the Commons public accounts committee finds the Queen’s advisers are failing to control her finances while the royal palaces are “crumbling”
http://2.bp.blogspot.com/_RaZ7btje5Jo/TMM3Gef-0NI/AAAAAAAAA94/sKbIMeaBnS4/s1600/queen_cash_story_682905c.jpg
A report by the Commons public accounts committee found that the Queen’s advisers were failing to control her finances while the royal palaces were “crumbling” Photo: GETTY IMAGES
Steven Swinford (http://www.telegraph.co.uk/journalists/steven-swinford/), Senior Political Correspondent
12:01AM GMT 28 Jan 2014
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(https://twitter.com/steven_swinford) The Queen’s household finances were at a “historic low” with just £1 million left in reserve, MPs said on Monday. Her courtiers were advised to take money-saving tips from the Treasury.
A report (http://www.publications.parliament.uk/pa/cm201314/cmselect/cmpubacc/665/66502.htm) by the Commons public accounts committee found that the Queen’s advisers were failing to control her finances while the royal palaces were “crumbling”.
MPs said her advisers had overspent to such an extent that her reserve fund had fallen from £35 million in 2001 to just £1 million today.
The Royal household had made efficiency savings of just 5 per cent over the past five years compared with government departments, that are cutting their budgets by up to a third.
MPs on the committee said the Treasury must “get a grip” and help to protect the royal palaces from “further damage and deterioration”.
Report by the Commons public accounts committee finds the Queen’s advisers are failing to control her finances while the royal palaces are “crumbling”
http://2.bp.blogspot.com/_RaZ7btje5Jo/TMM3Gef-0NI/AAAAAAAAA94/sKbIMeaBnS4/s1600/queen_cash_story_682905c.jpg
A report by the Commons public accounts committee found that the Queen’s advisers were failing to control her finances while the royal palaces were “crumbling” Photo: GETTY IMAGES
Steven Swinford (http://www.telegraph.co.uk/journalists/steven-swinford/), Senior Political Correspondent
12:01AM GMT 28 Jan 2014
Follow
(https://twitter.com/steven_swinford) The Queen’s household finances were at a “historic low” with just £1 million left in reserve, MPs said on Monday. Her courtiers were advised to take money-saving tips from the Treasury.
A report (http://www.publications.parliament.uk/pa/cm201314/cmselect/cmpubacc/665/66502.htm) by the Commons public accounts committee found that the Queen’s advisers were failing to control her finances while the royal palaces were “crumbling”.
MPs said her advisers had overspent to such an extent that her reserve fund had fallen from £35 million in 2001 to just £1 million today.
The Royal household had made efficiency savings of just 5 per cent over the past five years compared with government departments, that are cutting their budgets by up to a third.
MPs on the committee said the Treasury must “get a grip” and help to protect the royal palaces from “further damage and deterioration”.