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The Queen tries to use state poverty fund to heat Buckingham Palace

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”.

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About

Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and his opinions are regularly featured in the media. Visit Metropole.com.au


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