The Royal Family is Broke – the Queen, Prince William Need to Cut Spending
Is the Royal Family spending too much money? News of the Royal Palaces being in disrepair has emerged and the British government is pointing the finger at the Royal household for spending too much.
The taxpayers fund the Royal palaces in Britain. With more than 300 buildings, more than $51 million was spent in 2013. The Royal household is spending above their means and dipping into reserves with only $1.6 million remaining, as compared to 10 years ago when there was more than $30 million in reserves.
The palaces need repair, but there is no money to make the necessary fixes. From the boiler to the electric, there are numerous problems with the royal palace. Staff is reportedly running around with buckets to save priceless art from leaky ceilings.
There has been no mention of how Prince William and the Duchess of Cambridge, Kate Middleton feel about the news that they need to live more conservatively. With Kate being a hands on mom, they are saving on the cost of a nanny, but that is just a drop in the bucket.
Reducing public appearances and renting out Buckingham Palace are options that may be necessary to help with the Royal household.
Who wouldn’t love to stay at the Buckingham Palace??