Royal Family: ‘Mystery’ money could spark demands for transparency from Britons | royal | New

The company’s financial life is mostly hidden from the public. Royal expert Daniela Elser has claimed it could be a “future crisis” for the cabinet now that people expect more openness and transparency from public figures.

Ms Elser said: “It boils down to this: The Queen and the Royal Family to this day receive special treatment from the UK Government when it comes to things like taxes and their wills, while being allowed to conceal the true extent of their personal wealth.

“For more than a century, the British have swallowed the near-total blackout when it comes to Windsors and their stuffed wallets, but for how much longer?”

The royal household is also exempt from freedom of information requests and the public records law, but the palace maintains that it provides information as freely as possible in other areas.

However, Ms Elser said that in 2019 there were “in 2019 there were 3,629 sealed records relating to the Queen and her family, according to a member of the Privy Council”.

She added: “Again, at a time when people not only want but expect much more transparency and openness from public figures, how much longer will Britons accept this one rule for them/ a rule for all other injustice?”

The family has three sources of income which include the taxpayer funded Sovereign Grant, a private estate called the Duchy of Lancaster and their own private fortune.

Ms Elser said this is where things “get really muddy” as no one knows where their private income is coming from.

She said: “The latest Sunday Times rich list put the Queen’s personal wealth at $640m (£370m), the source of which no one really knows.

‘Over the years we have had glimpses inside the bank accounts of various HRH’s which have only raised more questions that the Windsors have never answered.’

READ MORE: ‘Tricky problem’ Prince Charles faces when he becomes king

The royal expert added: “Obviously the royal family doesn’t want the world to know how rich they probably are; it’s much harder to prove that you are working conscientiously and selflessly for the nation, s ‘it was to turn out that you had vast investments and enough cash on hand to bail out the Bank of England’.

She wondered how the Queen Mother, who came from a medium-sized Scottish landowning family, was able to leave £43million when she died in 2002.

Speaking of the £32million believed to have been left behind by Prince Philip, Ms Elsa said: “His own parents who lived in France and Greece barely had a penny to rub and his father, Prince Andrew of Greece and of Denmark, died almost penniless in Monte Carlo.

“So, again, how did a man who had no known source of outside income manage to accumulate so much dosh?”

Similarly, she asked where her money for Prince Charles came from after his financial consultant Geoffrey Bignell revealed that his ex-wife Princess Diana “took every penny he had” after their divorce.

But just five years later, Charles was estimated to have around £5.7 million, excluding his duchy’s funds.

Ms Elser also asked where Prince Andrew’s ex-wife Fergie found ‘mysterious new millions’ to pay for a recent £5million property in Mayfair after previously complaining of financial troubles.

Comments are closed.