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  #521  
Old 10-22-2010, 03:07 AM
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New deal announced in cuts means royals could be BETTER off | Mail Online

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The Queen stands to gain millions of pounds a year in extra funding, even as the rest of the country suffers from swingeing Government cuts, it emerged yesterday.
The Royal Household’s budget is set to rocket under an overhaul that will see the sovereign share in the profits from the immensely lucrative Crown Estate for the first time in 250 years.
The royals are expected to benefit annually from a 15 per cent slice of the £6.6billion property portfolio’s profits when the new ‘sovereign support grant’ is introduced, Treasury sources revealed last night.
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  #522  
Old 10-22-2010, 04:57 AM
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I guess HM always has the option of scrapping the deal that George III entered into, and keeping all of the income from the Crown Estate!
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  #523  
Old 10-22-2010, 05:00 AM
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There was a comment about that written by someone, I didn't understand what he meant.
But some of the comments are quite ridiculous.
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  #524  
Old 10-24-2010, 12:36 AM
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Originally Posted by muriel View Post
I guess HM always has the option of scrapping the deal that George III entered into, and keeping all of the income from the Crown Estate!
Before George III made that deal, the monarch was also responsible for paying for the entire civil government of the kingdom. If the Queen scrapped that deal (which she would no sooner do than dismiss Parliament and rule as an absolute monarch), she would have to use it to pay for the police, the National Health Service, the salaries and pensions of civil servants, roads, etc., in addition to the operation of the monarchy. While the revenue from the Crown Estate would pay for the monarchy several times over, it pales in comparison to the costs of running a nation, as was becoming evident when George III surrendered it (and responsibility for paying for the civil government of the country) to the Treasury.

I'm not quite sure why the amount of money given to pay for the monarchy was indexed to the profits made by the Crown Estate, really. It feeds into the popular misconception that it's personal property of the Queen, when really it's only tangentially related to the costs of the monarchy.
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  #525  
Old 10-24-2010, 12:36 AM
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http://www.dailymail.co.uk/news/arti...=feeds-newsxml

The Royal Family have secured a lucrative deal that will earn them tens of millions of pounds from the massive expansion of offshore windfarms.

They will net up to £37.5 million extra income every year from the drive for green energy because the seabed within Britain’s ter*ritorial waters is owned by the Crown Estate.
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  #526  
Old 10-24-2010, 06:05 AM
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I can hear the sighs of relief from 'BP' from here
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  #527  
Old 10-24-2010, 01:10 PM
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Finally we can have an independent monarchy that isn't reliant on Governments for hand outs. I hope it's worth as much as the Mail reports it might be...
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  #528  
Old 11-23-2010, 05:41 PM
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Queen's pay will be capped after claims Chancellor's austerity formula worth more | Mail Online
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  #529  
Old 01-01-2011, 06:35 AM
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One's in the money! Why Prince Charles's secret 20-year campaign could make him the richest king in history | Mail Online
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  #530  
Old 04-20-2011, 12:55 PM
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Giving back the crown estate

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Originally Posted by Cadiva View Post
It's not automatic that the Crown Lands belong to Parliament and the British people, it's simply been tradition that every Monarch since George III has continued to give up the revenue from them in return for the fixed payments from the Civil List.
A number of members of parliament have disputed the notion that this arrangement could be broken if the monarchy were dissolved. The idea is that the lands were confiscated by the state, and the reaffirmation with each new monarch is just a meaningless ritual.

I am not so sure. I think if the monarchy were dissolved, that Prince Charles would go to court to fight for some (if not all ) of the crown estate. In particular I think he would claim Windsor Castle as the family birthright.

Though the crown estate is very valuable, it seems to be worth about the same as the personal property of the Duke of Westminster. I think that there is an idea out there that the possessor of the crown estate would be the wealthiest man in the world, but it is not an unprecedented fortune.
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  #531  
Old 04-20-2011, 01:21 PM
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I have read that the revenue that the Monarch turn over to the gov't is far more than what they get back from the gov't in Civil List. So in a sense, the Crown is helping supporting the country with its revenue. It'll be interesting to see whether LEGALLY the Crown Estate really belongs to the gov't (just held in trust by the Monarch) or to the Monarch himself/herself.
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  #532  
Old 04-20-2011, 02:58 PM
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The revenue from the Crown estate was £300m in 2009-2010, which is almost 8 times the support given to the royal household for palace maintenance, travel, and the civil list.

Head of State support for 2009 was £38.2 million (including VAT of £1.9 million), compared to £41.5 in 2008.


2009/10 revenue by portfolio for the Crown Estate, excluding service charges:
Urban £221.4m
Marine £46.6m
Rural £25.1m
Windsor £6.6m

2009/10 property valuation including indirect investments, excluding service charges:
Urban £4.6bn
Rural £972m
Marine £444m
Windsor £177m
Total £6,193m

But naysayers believe that this comparison is illusionary. In 1760 the crown turned over responsibilities to the government that are now thousands of times higher than the crown estate revenue. The world is vastly different than it was in 1760. By 1750 the English population is estimated to have been 5.74 million, probably similar to the level prior to the mortality crises of the 14th century with the Black Death. So what percent of the £500 million budget should be covered by the crown estate?

While the value of the crown estate is large, it is still less than the estimated worth of the Duke of Westminster at £6,750m . His fortune was mostly assembled by the land purchases in London after the great plague .

Sir Richard Grosvenor, (9 January 1585 – 14 September 1645) was the 1st Baronet (of Eaton), but the family had been reasonably wealthy for almost a hundred years. The Great Plague was in (1665–1666) which killed 20% of London. The family assembled it's most valuable land afterwards.

In 1677 Grosvenor married; he was aged 21 and his wife, Mary Davies, was only 12. She was the daughter of a scrivener and had inherited land to the west of London. This was part of the Manor of Eia (or Ebury) and Mary's portion consisted of "swampy meads" .The area was later to become the Mayfair, Park Lane and Belgravia areas of London
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  #533  
Old 04-20-2011, 03:00 PM
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The Crown Estate revenues weren't the monarch's personal income before George III, and they were never solely for the upkeep of the monarchy. They were applied towards the costs civil government of the country (including the monarchy, but also many other things). As time went on and running the country become more expensive, Parliament started to supplement the money with various tax revenues. Eventually the Crown Estate revenues were only a small part of the money that the King (and ultimately the Treasury) got. The arrangement made by George III in 1760 was more of a change in accounting than the King surrendering his personal funds to the government. Before that, the money went to the Treasury to be used to run the country. Afterwards, it had to be appropriated by Parliament like all of the other state revenue.
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  #534  
Old 04-20-2011, 04:27 PM
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That's correct. Constitutionally, the revenues of the Crown Estate were already in the hands of Parliament by 1760, which is ultimately supreme law in the State, not The Crown. The arrangement made by George III was simply affirming in a formal manner what had already long been reality. With the exception of the Duchies of Lancaster and Cornwall, the Crown was subject to the will of Parliament for funding of the monarchy.

That said, it does make sense for Parliament to alter the arrangement to allow the monarchy a degree of independence from politics. The fact is The Queen has to constantly beg for adequate funds just to maintain the upkeep of the various palaces, including masonry work and plumbing, that are essential to any property and do not belong to her personally. The funding and maintenance of the Crown property should be done without question every year.
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  #535  
Old 05-08-2011, 03:36 AM
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Royal family braced for cut in funding - Telegraph

This says that the RF are to be given less money in the future - of course they haven't had a pay rise in 20 years.
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  #536  
Old 07-04-2011, 03:23 PM
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Annual Financial Reports

The Queen’s Official Expenditure for 2010-11 funded by the equivalent of the new Sovereign Grant has decreased by 5.3%. The total expenditure in the year was £32.1m.

Cost-cutting Queen saves the British taxpayer £1.8m, Buckingham Palace accounts reveal | Mail Online

The cost of keeping the monarchy fell £1.8 million last year under the new sovereign grant system to be introduced by the Government, Buckingham Palace accounts showed today.

The Queen's official expenditure for 2010/11 funded by the equivalent of the sovereign grant fell 5.3 per cent from £33.9 million in 2010 to £32.1 million.

The change in the calculation comes after MPs approved historic reforms to the royal finances last week which could see a cut to the Royal Family's budget.

Read more: Cost-cutting Queen saves the British taxpayer £1.8m, Buckingham Palace accounts reveal | Mail Online

Not to make to much of a point but if the Queen can cut her spending why can't Charles?
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  #537  
Old 07-04-2011, 03:35 PM
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Originally Posted by tommy100 View Post

Not to make to much of a point but if the Queen can cut her spending why can't Charles?
[/COLOR][/LEFT]
Erm, because the Queen's office didn't have to deal with the day to day details of the enormous Royal Wedding? Towards the end of 2010 Clarence House received more than 11,000 pieces of mail over and above the many thousands they already receive. Staff were hired on a short term basis to deal with all this mail.

Additionally, Charles took on 3 extra staff to work for William, Harry and Catherine as they take on more and more public duties.

And finally, Charles' expenditure for the preceding year was artificially low because the cost of his trip to Canada was paid by the Canadian government. Since then Charles has taken on overseas trips, at the request of the British government, which are paid for by the taxpayer.

It really annoys me that the UK press chose not to look at the detail but, instead, to go for the headline most likely to get people's blood boiling.
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  #538  
Old 07-26-2011, 04:21 AM
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The Prince of Wales - A letter from Paddy Harverson, Communications Secretary to The Prince of Wales and The Duchess of Cornwall, to the Independent

letter from Paddy Harverson, Communications Secretary to The Prince of Wales and The Duchess of Cornwall, to the Independent
4th July 2011
This is the text of a letter sent to the Independent by The Prince of Wales's Communications Secretary Paddy Harverson regarding misleading coverage of His Royal Highness's finances:


"Joan Smith's article "We are all in this together, but is Charles?" (30 June) and your news story of 29 June about the Prince of Wales's finances painted a misleading picture.
The Prince of Wales has 159 employees, of which the vast majority are either office staff who support the official duties and charitable work carried out by him, the Duchess of Cornwall, the Duke and Duchess of Cambridge and Prince Harry, or garden and estate staff working on his farm and gardens (the latter open to public visits which last year generated just under £500,000 for charity). Much attention is focused on his personal staff. As it happens, he has two butlers and two valets; he needs two of each because, obviously, people can't work every day of the year.
Last year the Prince and the Duchess together conducted 751 public engagements and official meetings, organised and overseen by his office. Almost 100 of those engagements were in support of our Armed Forces. During the year, Their Royal Highnesses visited 102 towns and cities in the UK, they hosted 127 official receptions, seminars, lunches and dinners, attended by almost 10,000 guests.
That staff also work in support of The Prince's Charities, the 20 organisations the Prince has set up and inspires to help others in areas of youth opportunity, the environment, education, the built environment and corporate social responsibility. With the help of the Prince and his office, those charities raised £123m last year.
The Prince meets the cost of almost all of this work – and all of his employees – out of his own pocket, using his private income from the Duchy of Cornwall. Because the Duchy has no debt – it is run in a conservative and sustainable fashion – there isn't a need to cut spending in the way that many organisations in the public and private sector are currently being forced to do.
As for his personal spending, which you note increased last year by 50 per cent to £2.5m, almost every penny of that was spent by the Prince on making additional donations to charities.
You also note that the Prince claims a large part of his spending against tax as a business expense. This is true and entirely proper. His taxes, which are audited by the Inland Revenue, rose last year by almost £1m to £4.4m.
Paddy Harverson
Communications Secretary to TRH The Prince of Wales and The Duchess of Cornwall
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  #539  
Old 10-18-2011, 04:39 AM
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BBC News - Royal funding changes become law

Royal funding changes become law

The biggest change for 250 years to the way the Royal Family is financed will be passed into law later
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  #540  
Old 12-04-2011, 03:56 PM
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The Queen's income frozen until 2015 - Telegraph
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