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Friday Sep 25 2020
Web Desk

Queen Elizabeth's chief finance officer comments on royal family's financial woes

Web Desk

British royal family has no intention of asking for extra funding despite the challenges caused by the coronavirus pandemic, said a royal official on Thursday.

According to Forbes, the statement was made by Sir Michael Stevens, Keeper of the Privy Purse (the official name for the Queen’s chief finance officer), who warned of a significant $25.4 million (£20 million) blackhole to emerge in the $468 million (£369 million) needed to complete the ten-year refurbishment to Buckingham Palace.

Shedding the light on the monarch's wealth, UK's Express reported that Queen Elizabeth II received a 55 percent rise in the European Union farm subsidies in 2019 at Sandringham just when Prince Charles’s Norfolk estate was turned organic.

In his latest book The Queen’s True Worth, royal finance expert David McClure claims Her Majesty is worth at least £400million which is £50million more than what was reported previously.

The report also revealed how with growing age, the Queen’s finances were also kept concealed as she frequently indulged in profligate activities like racing and entertaining herself.

The several privileges enjoyed by the royals hinder anyone from the outside in investigating their coffers as all values of their wills as well as estates are kept from the public.

Most of the monarch’s fortune, the report reveals, comes from the numerous properties that are under her name resulting in an astronomical figure.

As property prices skyrocket, her Balmoral and Sandringham estates are well worth over £100million.

With her collection of British and Commonwealth stamps, the value of her jewelry, art collection, gifts, antique cars and private investments (though a mystery), the figure crosses £400million which makes her richer than what the royal family allows the public to know.