`Overspending` Queen Elizabeth II down to her last million?
Zee Media Bureau
London: The finances of Queen Elizabeth II has reportedly have reached a "historic low" and come down to the last million pounds.
According to a report by House of Commons` Public Accounts Committee, Queen Elizabeth II had funds worth 35 million pounds in 2001 which have now decreased to merely 1 million pounds, as per a news report.
The British MPs have reportedly criticised the Royal Household for overspending when the royal palaces are "crumbling" and in dire need of repairs.
The reports blames Queen`s advisers for financial mismanagement and failing to abide by austerity measures. It states that the royal household has managed to save only 5% in the last five years.
Margaret Hodge, a Labor MP, has reportedly stated that Treasury has failed to review the financial planning and management of the House.
She further said that the Royal Household needs to cut back on its expenditure, as per report.
The Royal Household has reportedly said that repairing palaces is a priority and that the income of royal household has increased since 2007.
More from India
More from World
More from Sports
More from Entertaiment
- 24 dead after boat carrying 40 capsizes in river Ganga in Patna; many still missing
- My father wanted me to be a man of character: Navjot Singh Siddhu
- Dr Subhash Chandra Show: What characteristics define a true leader?
- Tourists flock to Manali as snowfall takes a short break
- Is Akhilesh Yadav overlooking Muslims as Mulayam Singh alleged?
- Abhishek Bachchan reveals the moment when Aishwarya Rai said 'yes' to him
- India vs England, 1st ODI: As it happened...
- India vs England, Pune ODI: MS Dhoni still the boss; convinces Virat Kohli with spot on DRS call — WATCH
- India vs England, 1st ODI: Ravichandran Aswhin steals the show with huge six — WATCH
- Petrol price hiked by 42 paisa per litre, diesel by Rs 1.03 a litre