Queen Elizabeth II Allegedly Once 'Almost Ran Out Of Money'
Queen Elizabeth II reportedly had money problems in the past. She, alongside the rest of the British Royal Family, was “running out of money to fix things.”
Express UK said that the claims came from Robert Hardman, specifically from his latest published material, “Queen of Our Times: The Life of Elizabeth II.” The book is, also, stated to have been billed as the “definitive biography” of the British Monarch.
It claims that the monarchy was only saved by a “generous” offer the then-Prime Minister David Cameron and then-Chancellor George Osborne gave at the time. As noted, the former PM was the one who told the matter to the author.
Cameron spoke with Hardman, saying that the Treasure saw an opportunity to do a “big, bold reform.” He, also, reportedly shared that “[Osborne] relished it because the historian in him loved the idea of trying to fix this long-standing problem.”
The outlet pointed out that the “generous” offer was the Sovereign Grant. The then-Prime Minister and then-Chancellor struck up a deal to “bail out” Queen Elizabeth II and the Palace.
As explained, the Grant is an annual payment the British Monarch receives from the Government. It replaced the old form of paying for the monarchy or the Civil List.
Cameron, later on, shared, as well, that he thought of the entire concern at the time as a “great challenge for the relationship between No. 10 and the Palace.
The subject of how Queen Elizabeth II and the rest of the British Royal Family make their money has become a talk of the town, once again, these past few months. Oprah Daily asserted that it all came after Prince Harry and Meghan Markle stated in their bombshell interview that the royal family cut them off financially after stepping down from their posts as working royals.
The publication, then, discussed how the British Royals make their money. As reported, the answer is “complicated,” adding that the working royals are “paid through a mix of public and private money.”
But, it pointed out that there are three sources: the Sovereign Grant, the Duchy of Lancaster, and the Duchy of Cornwall.
The same outlet continued that the public Grant is an “expense account of sorts.” As for the two private Duchies, as well as the Privy Purse, they are where Queen Elizabeth II and the rest of the senior working royals obtain their actual income.
The British Monarch reportedly draws from the Duchy of Lancaster to pay her children, who are working for the monarchy. These include Princess Anne and Prince Edward, as well as Prince Andrew in the past.
Meanwhile, Prince Charles and Camilla Parker Bowles obtain their income from the Duchy of Cornwall. This is where Prince William and Kate Middleton, also, receive their income, which the Prince of Wales pays through revenue surplus.