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  #1041  
Old 05-30-2017, 06:42 PM
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I have a question. I'm sorry if it has been asked and answered already.

As a member of the British Royal Family, can one control and/or direct one's own investments and income sources? If not, how far removed from the throne does one have to be?
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  #1042  
Old 05-30-2017, 06:52 PM
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I would imagine that all of them have their own private investments and portfolios that are theirs alone and personal.

Its well known that the Queen is very much into horse breeding so perhaps certain horses are invested in by her and groomed and trained to be superior race horses. She does really enjoy it watching her own horses run in a race and even more so when they win.

I know Anne has similar interests and has a stable at Gatcombe Park that is most likely her own private endeavor (perhaps with her ex husband Mark Philips?) I'm not that well informed about it but just going off the top of my head.

I'm sure others have a better idea of what their personal interests and investments are than I do but these two stood out for me for some reason.
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  #1043  
Old 05-30-2017, 06:56 PM
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The Queen doesn't (as far as we know) buy or direct her own investments as this is done for her, she can even keep these secret...

In fact, the Queen even has an extra mechanism to ensure that her investments remain secret - a nominee company called the Bank of England Nominees. It has been available for decades to all the world's current heads of state to allow them anonymity when buying shares. Therefore, when a company publishes a share register and the Bank of England Nominees is listed, it is not possible to gauge whether the Queen, President Bush or even Saddam Hussein is the true shareholder.

https://www.theguardian.com/uk/2002/...ilee.monarchy2

The fact is, I guess if she wanted to the Queen could use her 'insider knowledge' (She gets briefings from the Prime Minister weekly and also meets with the Chancellor of the Exchequer the day before the budget is announced) to help boost her finances but I guess part of her duty is not doing that.
As far as I know there are no rules per se banning the royal family from choosing their own investments though I imagine most rely on trusted finance experts to help them achieve the best return. Likewise I am sure all members of the RF have their own interests that require them to invest money, Princess Anne for example runs her country estate and hosts a number of events including a competitive horse eventing show. The Queen invests in her racing horses, Edward and Sophie both had money tied up in their own businesses once.
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  #1044  
Old 06-26-2017, 06:11 PM
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Expecting more negative press for HMQ re finances. .


Crown Estates have had a record breaking performance and it will take funding in 2017/18 from £76m to £82.2m from next April.

Because of the arrangement to fund the 10 yr refurbishment of BP, the funding is based on 25% of profits from Crown Estates.

(Source: The Times)

and even though people on here will know the reasons why etc., the majority of the UK public will not like this. More fodder for the anti-monarchists etc.


From front page on tomorrow's Times - also front page Express. Full stories not yet available
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  #1045  
Old 06-26-2017, 06:20 PM
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Actually, in the wake of the fire at Grenfell Towers and the subsequent findings of so many other buildings deemed "unsafe" for habitation, it may help the public to realize that places like Buckingham Palace which is a British National Treasure (in my book) needs to be updated, repaired and renovated in order to not only be safe but to also ensure that the building will be there to use for generations to come.

Grenfell Tower was a horrific tragedy that could have been so easily averted but out of it did come some good with other buildings being looked into, deemed unsafe and evacuated. It saddens me to think that the building that could have easily been burnt and destroyed could have been BP instead.

The work needs to be done. It will take 10 years to complete. The cost to get it done and get it done right is well worth it.
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  #1046  
Old 06-26-2017, 06:20 PM
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Not the worst front pages I've seen, but yes here we go:

https://d2kmm3vx031a1h.cloudfront.ne...ss%2026_06.JPG

https://d2kmm3vx031a1h.cloudfront.ne...es%2026_06.JPG
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  #1047  
Old 06-26-2017, 07:34 PM
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Full report on the Sovereign Grant from BP

https://www.royal.uk/financial-reports-2016-17
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  #1048  
Old 06-27-2017, 01:22 AM
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I am waiting for the outcries over the expenses for Andrew's trip to Botswana and Mozambique - but if memory serves correctly that was the tour he was asked to do when Anne took ill and had to cancel. The double standards will be interesting as if Anne had done it it would have been ok but for Andrew it wasn't.
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  #1049  
Old 06-27-2017, 02:06 AM
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Quote:
Originally Posted by Osipi View Post
Actually, in the wake of the fire at Grenfell Towers and the subsequent findings of so many other buildings deemed "unsafe" for habitation, it may help the public to realize that places like Buckingham Palace which is a British National Treasure (in my book) needs to be updated, repaired and renovated in order to not only be safe but to also ensure that the building will be there to use for generations to come.

Grenfell Tower was a horrific tragedy that could have been so easily averted but out of it did come some good with other buildings being looked into, deemed unsafe and evacuated. It saddens me to think that the building that could have easily been burnt and destroyed could have been BP instead.

The work needs to be done. It will take 10 years to complete. The cost to get it done and get it done right is well worth it.
The comparison with Grenfell somehow derailes I think. Here we are talking about a lady, with a residence as big as Grenfell. And with other residences as big as Grenfell at her disposal. The doomed tower was cramped with people relying on social housing. Buckingham Palace houses one of the wealthiest ladies in Britain. The residents of Grenfell had to move heaven and earth -in vain- with their landlords to get the building properly updated. The resident of Buckingham Palace lays the bill at the taxpayers' doorstep. So any comparison with Grenfell will only work as the famous red cloth on a bull, I am afraid to say...
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  #1050  
Old 06-27-2017, 04:29 AM
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I must say the method of giving the Queen a pay rise to cover the costs of the maintenance of Buckingham Palace is a bit unlogical. When I was the Chancellor (the Minister of Finances) I would assign funds to a new chapter in the State Budget: "Restoration Buckingham Palace" and leave the Queen's income completely apart. Superficially seen it reads as: "The Queen gets an enormous pay rise" and that is true but then one has to read furtherer. I would have made a stricter separation to create transparency.
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  #1051  
Old 06-27-2017, 06:45 AM
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One of the reasons the palace needs the repairs is because when the building repair budget was separate from the civil list, it wasn't properly funded and the civil list when 20 some years without an increase. So they just patched what they needed to fix instead of replacing totally outdated stuff. The parliament building is even worst shape than BP. It's repair estimates are multiple billions of pounds.
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  #1052  
Old 06-27-2017, 08:47 AM
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Everyone wants the royals to work very hard, show dedication, respect tradition and have three digits in the annual engagement list at the end of the year...until folks see how much it costs-
Questions over royals and taxpayers' money

https://www.express.co.uk/news/royal...rivate-jet/amp

http://www.dailymail.co.uk/news/arti...-s-ransom.html
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  #1053  
Old 06-27-2017, 09:25 AM
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I think a lot of people too are under the impression that as the Queen lives at Buckingham Palace, she also holds the deed to it and it is hers to do as she pleases with it. This is far from the truth.

Buckingham Palace is held and maintained by the Crown Estate. It is reserved for use by the monarch but the monarch, herself, cannot treat it as her own property. The Crown Estate holds *in trust* properties to be occupied by the Monarch and to be kept for future generations. It is its own entity separate from the monarchy and the government.

HM, The Queen couldn't up and decide that as long as they're renovating and repairing the palace, she wanted to add a wing devoted solely to horse statues. The government of the day couldn't up and decide they need a wing at the palace to store governmental archives at.

The basis of the much needed repairs falls in line with the same idea that the owners of Grenfell Tower should have had. To properly maintain the premises to ensure the safety of those that live there along with assuring that the structure would be sound and secure for tenants into the future.
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  #1054  
Old 06-27-2017, 09:44 AM
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Quote:
Originally Posted by Duc_et_Pair View Post
The comparison with Grenfell somehow derailes I think. Here we are talking about a lady, with a residence as big as Grenfell. And with other residences as big as Grenfell at her disposal. The doomed tower was cramped with people relying on social housing. Buckingham Palace houses one of the wealthiest ladies in Britain. The residents of Grenfell had to move heaven and earth -in vain- with their landlords to get the building properly updated. The resident of Buckingham Palace lays the bill at the taxpayers' doorstep. So any comparison with Grenfell will only work as the famous red cloth on a bull, I am afraid to say...
The point is that Buckingham Palace is a public building held in trust by the sovereign. Why should the Queen privately pay for renovations in a building she doesn't own personally and cannot sell or commercially explore for personal profit ?

Where does the funding for the Occupied Royal Palaces Trust come from anyway ? Does it also come from the Sovereign Grant or is it a separate grant in the UK budget ?
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  #1055  
Old 06-27-2017, 10:01 AM
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Originally Posted by Mbruno View Post
The point is that Buckingham Palace is a public building held in trust by the sovereign. Why should the Queen privately pay for renovations in a building she doesn't own personally and cannot sell or commercially explore for personal profit ?

Where does the funding for the Occupied Royal Palaces Trust come from anyway ? Does it also come from the Sovereign Grant or is it a separate grant in the UK budget ?
If I'm not mistaken, the Sovereign Grant comes from the profit made by the Crown Estate itself.

"Funding for the Sovereign Grant comes from a percentage of the profits of the Crown Estate revenue (initially set at 15%). The grant will be reviewed every five years by the Royal Trustees (the Prime Minister, the Chancellor of the Exchequer and the Keeper of the Privy Purse), and annual financial accounts will continue to be prepared and published by the Keeper of the Privy Purse."

https://www.royal.uk/royal-finances-0

So, looking at it this way, the Crown Estate which holds Buckingham Palace in trust, is handing over a percentage of its profits which will be used to repair and maintain something that is being held *in trust* by itself.
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  #1056  
Old 06-27-2017, 01:17 PM
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Quote:
Originally Posted by Osipi View Post
If I'm not mistaken, the Sovereign Grant comes from the profit made by the Crown Estate itself.

"Funding for the Sovereign Grant comes from a percentage of the profits of the Crown Estate revenue (initially set at 15%). The grant will be reviewed every five years by the Royal Trustees (the Prime Minister, the Chancellor of the Exchequer and the Keeper of the Privy Purse), and annual financial accounts will continue to be prepared and published by the Keeper of the Privy Purse."

https://www.royal.uk/royal-finances-0

So, looking at it this way, the Crown Estate which holds Buckingham Palace in trust, is handing over a percentage of its profits which will be used to repair and maintain something that is being held *in trust* by itself.
As far as I understand, the Crown Estate and the Occupied Royal Palaces Estate are two separate estates. The Crown Estate is , in practice, a corporation whose property holdings (valued at as much as 12 billion pounds) generate a considerable annual revenue that goes directly to the UK treasury. The Occupied Royal Palaces, on the other hand, are not commercial property holdings.

Before the Sovereign Grant Act, the funding to maintain the occupied palaces came from a grant-in-aid from the Department for Culture, Media, and Sports. Now the maintenance is also paid for by the Sovereign Grant, which is set at 15 % of the government's net surplus from the Crown Estate.

Maybe Cepe can explain it better.
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  #1057  
Old 06-27-2017, 01:20 PM
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Wasn't it more transparent when the Crown Estate would dedicate funds to the restoration of Buckingham Palace, one of the Crown Estate's objects, than to make a whole route ending with a "pay rise for the Queen"?

Much of all the comments could easily have been prevented if it was all arranged outside the Queen's purse indeed.

In my personal opinion it is better to have the Queen's income (indexed by the general pay rise in the UK) separated from the functional costs of the monarchy, and the costs of objects which are not the Queen's but given at her disposal.
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  #1058  
Old 06-27-2017, 01:32 PM
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The Queen's private income is separate to the Sovereign Grant.

The SG is to cover the costs of official engagements, salaries of those employed as part of the work of the Head of State and the maintenance of the royal palaces.

The Queen's private income comes from the Duchy of Lancaster and from that she funds the private expenses of the extended family except for the Wales branch who have their official and private expenses covered by the Duchy of Cornwall. When one of the Wales' branch officially represents The Queen the expenses come from the SG but other official expenses come from the Duchy of Cornwall.
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  #1059  
Old 06-27-2017, 01:37 PM
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Originally Posted by Mbruno View Post
As far as I understand, the Crown Estate and the Occupied Royal Palaces Estate are two separate estates. The Crown Estate is , in practice, a corporation whose property holdings (valued at as much as 12 billion pounds) generate a considerable annual revenue that goes directly to the UK treasury. The Occupied Royal Palaces, on the other hand, are not commercial property holdings.

Before the Sovereign Grant Act, the funding to maintain the occupied palaces came from a grant-in-aid from the Department for Culture, Media, and Sports. Now the maintenance is also paid for by the Sovereign Grant, which is set at 15 % of the government's net surplus from the Crown Estate.

Maybe Cepe can explain it better.
I think this article spells it out quite clearly how it works.

Crown Estate makes record £304m Treasury payout - BBC News
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  #1060  
Old 06-27-2017, 01:37 PM
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One of the reasons the palace needs the repairs is because when the building repair budget was separate from the civil list, it wasn't properly funded and the civil list when 20 some years without an increase. So they just patched what they needed to fix instead of replacing totally outdated stuff. The parliament building is even worst shape than BP. It's repair estimates are multiple billions of pounds.
A few weeks ago the BBC had a nice series about the House of Lords. More posh than the Commons we may say. I was shocked to see the state of the House of Lords: a cramped, totally worn out building, which has become a labyrinth full of temporarily created rooms and most of these with awful rags serving as "curtains", smelly-looking stained carpets and damaged wallpapers. The lord-and ladyships breaking their neck over the uncountable boxes and other neck-breaking objects clotting the space. A paradise for an inferno... When I saw that, I thought: good heavens, where to begin....???

The Palace of Westminster already looked outdate in the time of it's construction, with it's enthusiastially grabbing back to a fantasy neo-gothic style, all of doubtful quality, seeing the moist crippling up from the Thames, the crumbling of the countless exterior ornaments, the visible cracks in the walls and even with single-glass windows everywhere, guaranteeing a massive energy bill. Good luck to the companies which have to modernize the complex. Good luck to the committee which has to control it all, that the costs will not spiral completely out of control (every chance on that)!
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