As a property investors you obviously know that your outings, the costs of running your properties, can really eat into your profits.
Well you’re not the only one….
Spare a thought for the Queen who’s also having difficulty making ends meet.
Documents disclosed under the Freedom of Information Act reveal that in search of more money-saving schemes, the Queen’s deputy treasurer wrote to the Department for Culture, Media and Sport to ask whether the Royal Household would be eligible for a grant to replace four combined heat and power (CHP) units at Buckingham Palace and Windsor Castle.Royal aides complained to ministers in 2004 that the Queen’s gas and electricity bills, which had increased by 50 per cent that year, stood at more than £1m a year and had become “untenable”. The Royal Household also complained that the £15m government grant to maintain the Queen’s palaces was inadequate.
Her Majesty didn’t get the money she asked for…
Royal aides were told that the £60m worth of energy-saving grants were aimed at families on low incomes and if the money was given to Buckingham Palace instead of housing associations or hospitals it could lead to “adverse publicity” for the Queen and the Government.[sam id=37 codes=’true’]
Apparently taxpayers already contribute £38m to pay for the Royal Family. Yet some of the buildings which would have benefited from the energy grant were occupied by minor royals living in grace and favour accommodation on the royal estates.
Yet surprisingly the Government offered no resistance to the proposed application and cleared the way for the Queen to take advantage of the handout.
But by August 2004 the documents show that Whitehall officials had changed their minds and poured cold water on the whole idea. In an email sent to the Palace it was diplomatically explained that the funds were aimed at people on “low incomes”.
Subscribe & don’t miss a single episode of Michael Yardney’s podcast
Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.
Need help listening to Michael Yardney’s podcast from your phone or tablet?
We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.
Prefer to subscribe via email?
Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.