Queen Elizabeth II Is Broke ... She Is Down To Her Last Million Due to Overspend

Date: 30-01-2014 6:55 am (10 years ago) | Author: Direct
- at 30-01-2014 06:55 AM (10 years ago)
(m)
According to new reports, the Queen of England is left with only $1.6m in reserves after royal overspending. She was once the richest woman in the world (in the 80s) and in 2010 Forbes magazine estimated her net worth at around $450 million and now she's broke? From Eonline Perhaps Queen Elizabeth II could learn something from her thrifty granddaughter-in-law Kate Middleton. The 87-year-old monarch has been overspending the royal family's famous fortune, according to a report published by the Commons Public Accounts Committee on Monday, Jan. 27. Following her courtiers' advice, Her Majesty the Queen's reserve fund has fallen from £35 million ($58 million) in 2001 to just £1 million ($1.6 million) in 2014. The report states the royal family is "spending above their means and dipping into the reserves...the balance now stands at an all-time low." The report also reveals that a number of palaces are in "dangerous or deteriorating" conditions. Forty percent of them, in fact, are "below acceptable standards." It's not exactly new information, as Queen Elizabeth II knows that there's an $82 million backlog in repairs due to tightened government funding. Taxpayers fund the royal palaces in Britain, comprised of more than 300 buildings. In 2013, the public spent about £31 million ($51 million) renovating and operating the facilities. The report urged the treasury to "get a grip" and help the royal family to prevent "further damage and deterioration."

Posted: at 30-01-2014 06:55 AM (10 years ago) | Hero
- winace at 30-01-2014 07:47 AM (10 years ago)
(f)
D young ones among them shld go and work na. Wat are they lazying around spending carelessly for. If one is royal does it mean pple shld labour and work and pay their tax and d royal family will squander it cus they don't kn how to work hard and make money so they don't kn d value. Mcthewwww
Posted: at 30-01-2014 07:47 AM (10 years ago) | Addicted Hero
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- ajanni at 30-01-2014 08:25 AM (10 years ago)
(m)
i trust you ,
you will said it bold and plain
Posted: at 30-01-2014 08:25 AM (10 years ago) | Grande Master
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