Royal Wealth and Finances 1: Ending 2022

[sirhon11234]

Honestly, Andrew couldn't pay $300,000 out of his own pocket.

 

[Iluvbertie]

Honestly, Andrew couldn't pay $300,000 out of his own pocket.

Why should he?

He doesn't own St James' Palace, the government does.

The apartment in question had been lived in by one tenant for a number of years and like any other landlord they needed to refurbish before allowing another tenant in.

Had the new tenant been someone other than Beatrice the cost would have still been there but it wouldn't have been news.

This is just the sort of thing that bugs me with many British people and their monarchy. They want the pomp and circumstance and would complain if it wasn't there but aren't prepared to pay anything to support that e.g. Andrew isn't paid by the government for the job he does. He should be getting the same salary as any other British Ambassador rather than be supported by his mother. However, many British (but not all) don't want to acknowledge that to have a royal family means that the individuals concerned also need to have an income but they object when they take on 'jobs' because that means they are cashing in on their royal connections but they aren't prepared to pay them to do 'royal' activities.

 

[RoyalistRiley]

The Royal Finances were released the other day and can be viewed here : Annual Financial Reports . Apparently the Monarchy only costs 69p per citizen per year, or approx AUD1.40. I don't see why people make such a fuss about the expense of having a monarchy when it brings so much to so many.

 

[Skydragon]

The Queen pays less council tax to live in Buckingham Palace than a family in a suburban semi, the Mail can reveal.
The Queen pays the tax on the most prestigious address in the country to Westminster City Council, which has the second lowest rates in the country.
That means the annual bill for herself and Prince Philip is £1,375.24 a year - £400 cheaper than the average bill for families living neighbouring boroughs

The Queen's £1,375 council tax bill (that's £400 cheaper than her neighbours in the next borough) | Mail Online

We have been subject this week to familiar obtuse complaints about the funding of the Royal family, because our beloved Queen has sought an increase in the Civil List.

http://www.telegraph.co.uk/comment/...he-Queen-is-getting-out-her-begging-bowl.html

 

[yvr girl]

Charging the Queen rent is silly. What other Head of State pays rent for their official residence?

Most of them redecorate when they first move in, to the tune of thousands and thousands of dollars.

The Queen is a pretty good bargain as far as Head of States go.

 

[Skydragon]

Charging the Queen rent is silly. What other Head of State pays rent for their official residence?

Gee, you think? What other head of state doesn't pay all taxes and is virtually guaranteed a job for life?

 

[Warren]

Well, there's no provision for retirement in her employment contract.

 

[AuroraB]

The Queen pays less council tax to live in Buckingham Palace than a family in a suburban semi, the Mail can reveal.
The Queen pays the tax on the most prestigious address in the country to Westminster City Council, which has the second lowest rates in the country.
That means the annual bill for herself and Prince Philip is £1,375.24 a year - £400 cheaper than the average bill for families living neighbouring boroughs

The Queen's £1,375 council tax bill (that's £400 cheaper than her neighbours in the next borough) | Mail Online

We have been subject this week to familiar obtuse complaints about the funding of the Royal family, because our beloved Queen has sought an increase in the Civil List.

The Queen is getting out her begging bowl - Telegraph

Try living in the Chicagoland area. Original fair market value of my 2 bed condo was approx 97,373 pounds and the property taxes are approx 2,327 pounds.

 

[Opal]

...What other head of state doesn't pay all taxes ... ?

American President's don't pay taxes and I believe that's for the rest of their lives.

 

[wbenson]

American President's don't pay taxes and I believe that's for the rest of their lives.

http://www.cnn.com/2008/POLITICS/04/11/bush.taxes/

President and Mrs. George W. Bush reported taxable income of $719, 274 for the tax year 2007 and paid $221,635 in federal income taxes, the White House said Friday.

 

[Skydragon]

There are plans for the Queen to have use of her own jet. The cost would be £3 million but the motive is thrift, since the ageing RAF aircraft on which the Royal family relies are often unavailable or being mended. Last year this meant that the Royal family had to spend £193,000 chartering flights

The Queen's flight - Telegraph

http://www.dailymail.co.uk/news/art...-cut-travel-costs--buying-Queen-3m-plane.html

The Queen is to have her own £3 million private jet under revived plans to try to cut the spiralling Royal Family travel bill, The Daily Telegraph can disclose

http://www.telegraph.co.uk/news/new...-plans-for-Royal-plane-for-Queen-revived.html

 

[Skydragon]

Had the new tenant been someone other than Beatrice the cost would have still been there but it wouldn't have been news.

There may have been some costs but I doubt it would have been £250,000 - £300,000.

This is just the sort of thing that bugs me with many British people and their monarchy. They want the pomp and circumstance and would complain if it wasn't there but aren't prepared to pay anything to support that .

I wonder if most would, it tends to be the tourists and short stay visitors who go to the majority of palaces/events.

 

[ada]

IMO, the royal family as a whole, GIVES more than it GETS

 

[Skydragon]

Following the global slowdown and economic crisis, Queen Elizabeth IIhttp://search.rediff.com/imgsrch/default.php?MT=queen+elizabeth+ii&header=world is determined to switch from the LPG-fuelled black cab to an environmentally friendly car service to save money.

http://business.rediff.com/report/2009/jul/08/brit-queen-to-cut-costs-with-green-tomato-cars.htm

 

[Skydragon]

The Queen's Crown Estate property empire has been hit by the credit crunch after more than £1billion was wiped from the value of assets - the first decline since 1993.

Queen's property empire slumps by a staggering £1bn due to recession | Mail Online

 

[ada]

3 million pounds for plane for Queen All very well to say HM's plane can be smaller because her retinue is smaller than the PM, but a larger plane is much more comfortable.

 

[wbenson]

The Danish Royal Family does not have its own plane but Queen Anne-Marie has a yacht, Dannebrog, which is used extensively in the summer months.

Did they confuse names? Why would Anne-Marie have Dannebrog?

3 million pounds is pretty cheap as far as private jets go. The only think I wonder is if it will significantly lower the amount spent on charters, as I don't think a lower-end private jet will have the range for intercontinental flights.

 

[Skydragon]

Did they confuse names? Why would Anne-Marie have Dannebrog?

I don't think they were confused, perhaps the wording left a little to be desired. Anne-Marie is the youngest daughter of Queen Ingrid & King Frederick of Denmark, her older sister is Queen Margrethe of Denmark, so her sister probably lends her the yacht.

 

[Warren]

The Queen's Crown Estate property empire has been hit by the credit crunch after more than £1billion was wiped from the value of assets - the first decline since 1993.

Maybe it reflects the different mix of properties but it's interesting to note that the value of the Duchy of Cornwall rose while the value of the Crown Estate fell.

 

[rmay286]

The Royal Finances were released the other day and can be viewed here : Annual Financial Reports . Apparently the Monarchy only costs 69p per citizen per year, or approx AUD1.40. I don't see why people make such a fuss about the expense of having a monarchy when it brings so much to so many.

Really? that's all! From the criticism the royal family gets from the media, you would think it was much more.

I believe the royal family could cut costs in places and that the figures they spend each year are quite high, but the royals are also expected to provide pomp and pageantry and to do a lot of traveling. I'm impressed that they can do all that at such a relatively low cost per British citizen.

The more I read British media reports criticizing the royal family, the more I think that the media deliberately creates headlines to make it look like everyone in the royal family other than possibly the Queen, Prince Philip and Princess Anne, wastes more taxpayer money than they actually do. Sometimes I do read a story and think that money was wasted or someone made a bad decision, but often I think the media skews their stories to make it seem as though members of the royal family have a huge amount of personal wealth and should be paying for everything out of their own pocket, even if the expense is something that would normally be paid by the government because it relates to the upkeep of the monarchy as an institution--for instance, St. James' Palace. It's really hard for the royal family to win.

 

[muriel]

Maybe it reflects the different mix of properties but it's interesting to note that the value of the Duchy of Cornwall rose while the value of the Crown Estate fell.

It is well reported that the Duchy of Cornwall actively manages its proporty portfolio, and has "traded" very actively over the last few years. By comparison with the Crown Estate, it may be possible to draw the conclusion that perhaps it may have been better managed.

That said, the difference in "performance" may also be due to the mix of properties held as Warren has pointed out. My understanding is that the CE holds vast retail interests (eg Regent St freehold) which are probably worse hit than other types of property.

 

[Skydragon]

IMO, the royal family as a whole, GIVES more than it GETS

Sadly, not to the people who pay for them. IMO

but the royals are also expected to provide pomp and pageantry and to do a lot of traveling. I'm impressed that they can do all that at such a relatively low cost per British citizen.

The cost of the 'pomp and pageantry' is not included in the figure. The costs concerning the displays put on by the armed forces, the guardsmen etc are in addition to the figure given.

 

[Skydragon]

The value of the Queen’s private estate has fallen by almost a fifth due to the impact of the recession.
The Duchy of Lancaster - a portfolio of land, property and assets held in trust for the Sovereign - saw its value drop by £75million to £322million in the 2008-9 financial year.
But the income the Monarchy received from the Duchy, which is used to fund her public and private activities, increased by 5.4 per cent from £12.6million to £13.3millio

Read more: One is credit crunched: Queen loses £75million in recession as estate value falls by a fifth | Mail Online

 

[Skydragon]

He will be responsible for managing a £6bn property portfolio on behalf of the British taxpayer ranging from forests and seashore to some of London's most sought-after locations.

http://www.telegraph.co.uk/finance/...-Stuart-Hampson-to-head-The-Crown-Estate.html

 

[Skydragon]

This post copied over for the record only.
Discussion on the subject is in the William & Harry Inheritance thread.
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The prince turns 25 on Tuesday September 15. Although he will inherit the multi-million pound fortune, he, like his brother William, 27, will be prevented from spending the money until they turn 30.

Prince Harry to inherit share of Diana's fortune - Telegraph

PRINCE Harry will become a multi-millionaire next Tuesday when he turns 25.

The birthday means Harry inherits his share of Princess Diana's fortune, estimated at £9million.

Diana £9m as Prince Harry hits 25 | The Sun |News|Royals

 

[Royal Fan]

So how much is that in US Currency is he or will he ever be on Civil List, how much do the Army Pay him? sorry if the questions seem silly

 

[Iluvbertie]

So how much is that in US Currency is he or will he ever be on Civil List, how much do the Army Pay him? sorry if the questions seem silly

The only way he will be on the Civil List is if he becomes King.

The only people on the Civil List now are the Queen and the Duke of Edinburgh (other members of the Queen's family, who were on the Civil List before they changed things in the early 90s get money from the government BUT the Queen then repays that money so that now it is only the monarch and consort).

Charles, as Duke of Cornwall, has the income of the Duchy of Cornwall to support him, his wife and his sons. On his accession that income will pass automatically to William, who will instantly become Duke of Cornwall when his father becomes King. Charles will then have the income of the Duchy of Lancaster to provide his personal income and that money will be used to continue to support his siblings, cousins and Harry (I don't think he would turn around to say the elderly Duke of Kent and say 'sorry I am not giving you anything to live on' but support for the descendents won't be happening and they will have to work for themselves).

 

[muriel]

So how much is that in US Currency is he or will he ever be on Civil List, how much do the Army Pay him? sorry if the questions seem silly

The exchange rate GBP/US$ is around 1.67 - I will let you work on the math

 

[Skydragon]

So how much is that in US Currency is he or will he ever be on Civil List, how much do the Army Pay him? sorry if the questions seem silly

£9,000,000 = $15012510.4254 RAF Officer pay can be anything between £36,000 - 43,000 p.a with more being paid depending on qualifications.

 

[Skydragon]

The Queen is privately pushing for taxpayers to contribute an extra £44 million to the Royal household to cover the cost of refurbishments, letters released by the Treasury have disclosed.

Queen wants extra £44m to refurbish palaces - Telegraph