Tuesday, 18 February 2014

The Regal Con Game

Times are hard for British capitalism today so our rulers have had to cut costs. They have slashed welfare benefits, put a cap on government workers’ wages and introduce a bedroom tax and once more a nasty piece of legislation that has hurt thousands. However, there are some things of course that are sacrosanct. 'The Queen has received a £5m boost in the funds she receives from the taxpayer to carry out her official duties. The sovereign grant, which covers the running costs of the Queen's household, was set at £36.1m for the 2013-14 financial year’ To the ruling class she is worth every pound, for she and her large extended family help to keep the workers thinking they are one nation and give them spectacular royal events. Essential to disguise their exploitation and some will say this is money well spent?”

The British House of Commons' public accounts committee released a 35-page report that said the queen received 31 million pounds, 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".

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.

The royal train service cost £200,000 pounds last year, but royal travel spending did fall to £4.5 million pounds in 2012-2013 from 5 million pounds in 2007-2008. The royals have lower helicopter maintenance to thank for that, which was most recently 2.7 million, compared to £3 million in the previous year.

However, the royals are spending more on their utilities: £9.9 million pounds in 2012-2013, compared with £8.2 million in 2007-2008.

Of note, the Queen is worth an estimated £395.30 million, according to Wealth-X, a firm that researches ultra-high net worth individuals.

Of the family estimates have put Prince Charles as being worth an estimated £221.62 million, Prince William is worth an estimated £11.98 million, while his brother Harry is estimated to have £9.58 million.

Whilst it is indeed noble and great for the two young Princes to get up early one morning and help out with the floods that have hit better off parts of the country, it is notable that no crumbs full off the royal tables or any food is offered to food banks to help feed the Queens impoverished and penniless subjects many of whom are indeed starving whilst she runs lavish gigs like the one the other night for the BAFTAs. The Queen hosted the event at Buckingham Palace, Rada students performed songs from the musical Oh! What A Lovely War, and why didn't veteran actress Helen Mirren have anything to say about this song of violence?”

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