Queen Elizabeth in the poor palace


There’s not much left in the royal cookie jar.

British lawmakers report that Queen Elizabeth’s household finances are in such disarray that she has lost $50 million since 2001 and is now down to her last million pounds ($1.6 million) in the contingency fund, while Buckingham Palace and other royal residences “crumble” around her, according to the Telegraph.

Members of Parliament blame the monarch’s advisers.

“I don’t think we’d accuse anybody of profligacy but, what we are saying, is that we don’t think the Queen is served well either by the royal household or, indeed, by the Treasury,”┬áMargaret Hodge, chairwomen of the public accounts committee tells the BBC.

Taxpayers fund the royal household to the tune of $51 million per year. That’s supposed to pay for royal duties and tours and maintenance of the palaces. But the queen’s staff has been spending more and they keep dipping into the contingency fund.

The remedy, Hodge says, is to fling open the doors of Buckingham Palace, which tourists can visit only 78 days a year.

Don’t feel too sorry for the queen. Her personal wealth is estimated to be about $500 million.