02.12.13 2:38 PM ET
Queen's Finances To Be Publicly Scrutinised
The Queen’s finances are always a hot topic in the UK - this year the royals will receive a tasty £36m towards the cost of their official duties - and now HM's closest aides face the prospect of a public grilling by MPs about where the money goes.
The Public Accounts Committee (PAC) is expected to launch an inquiry later this year into the finances of the Queen and the Royal Family, according to a report in the Independent, which says, "Such an inquiry will cause trepidation in Buckingham Palace because of the committee’s formidable reputation for lambasting civil servants and government departments if it deems they have misused public funds."
The PAC is behind the recent public shaming of Amazon and Starbucks in the UK.
Inevitably up for discussion will be the Royal Train, which costs around £40,000 per journey and money given to junior royals.
The Queen's annual payment represents 15 per cent of the income from the Crown Estate, whicch comprises assets such as Regent Street in London (the whole thing) , Ascot racecourse the national seabed around Britain.
Under a deal with the Palace the main income of the Prince of Wales, which he gets through the Duchy of Cornwall, will be outside the PAC’s scrutiny. The Duchy of Lancaster, a trust that provides the Queen’s private income, is also exempt.