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http://www.dailymail.co.uk/news/article-1061526/Treasury-blocks-Queens-secret-plea-money.html
Treasury blocks the Queen's secret plea for more money
By Sri Carmichael
Last updated at 9:55 AM on 25th September 2008
The Queen could face a cash crisis by 2011 but her secret pleas to the Government for extra money are being refused, it was claimed today.
Palace aides have told ministers the monarchy's finances have been eroded by inflation and more money is needed to pay for the royal family's official duties and the upkeep of its palaces.
But the credit crunch has ravaged the Government's budgets and it says it cannot provide extra funding.
As the dispute grows behind closed doors, royal officials are reminding ministers of their constitutional duty to protect the Queen's financial security.
They say Parliament must increase both the £15million it pays to maintain the Royal Estate, and the £7.9million for the Civil List, which pays for the senior royals' official functions.
Without a state bail-out, the Queen will be unable to balance her books within the next three years, an investigation by accountants Baker Tilly claims.
If the monarchy keeps spending at the current rate, by 2011 soaring prices will take the bill for maintaining the Royal Household to more than double the £7.9million allocated each year.
This year's Buckingham Palace accounts show Civil List expenditure will reach £14.4million.
Royal aides say there is already a £ 32million black hole in the accounts, with the cash needed to pay for a backlog of repairs. The Treasury will only say that an announcement on the Civil List will be made 'in due course'. A Palace source said: 'I am not convinced [ministers] are listening very carefully to our arguments. It is a major disappointment.'
Treasury blocks the Queen's secret plea for more money
By Sri Carmichael
Last updated at 9:55 AM on 25th September 2008
The Queen could face a cash crisis by 2011 but her secret pleas to the Government for extra money are being refused, it was claimed today.
Palace aides have told ministers the monarchy's finances have been eroded by inflation and more money is needed to pay for the royal family's official duties and the upkeep of its palaces.
But the credit crunch has ravaged the Government's budgets and it says it cannot provide extra funding.
As the dispute grows behind closed doors, royal officials are reminding ministers of their constitutional duty to protect the Queen's financial security.
They say Parliament must increase both the £15million it pays to maintain the Royal Estate, and the £7.9million for the Civil List, which pays for the senior royals' official functions.
Without a state bail-out, the Queen will be unable to balance her books within the next three years, an investigation by accountants Baker Tilly claims.
If the monarchy keeps spending at the current rate, by 2011 soaring prices will take the bill for maintaining the Royal Household to more than double the £7.9million allocated each year.
This year's Buckingham Palace accounts show Civil List expenditure will reach £14.4million.
Royal aides say there is already a £ 32million black hole in the accounts, with the cash needed to pay for a backlog of repairs. The Treasury will only say that an announcement on the Civil List will be made 'in due course'. A Palace source said: 'I am not convinced [ministers] are listening very carefully to our arguments. It is a major disappointment.'
blasting love 'n light wasn't my idea though... i swear!
