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23/06/2010
Queen's Income 'Falls By Three Quarters'
The Civil List - support for The Queen to carry out her public duties and meet central staff costs and running expenses - is to be held at its existing level next year, even though that represents a fall in real terms of over 75%.
In his Budget statement on Tuesday, the Chancellor George Osborne announced that payment to the Civil List for calendar year 2011 will be unchanged at £7.9m.
That's despite it being at the same level for over two decade, having been at that level set in 1990 - which means the real value of the payment is down 76%.
In terms of detail, the royal Household spending on support of The Queen in duties as Monarch in 2011 will actually fall from £15.1m to £14.9m - with the £7m difference financed from the Civil List Reserve.
However, this is also a lower payment, as the Civil List Reserve is a fund built up through careful housekeeping undertaken by The Queen since 1990.
Then, in 2012, support of The Queen will be simplified, and, building on the transparency that already applies to royal finances, the Government and Royal Household will develop a new system of consolidated finance.
"This simpler approach will be conducive to greater efficiency and promote public understanding of Royal finances," said an official Government statement yesterday.
With the support of the Royal Household, the National Audit Office will also be responsible for the audit of the Civil List accounts and lay them in Parliament.
This will align the Royal Household's business accounts to the same standard of scrutiny as Government departments.
This approach will also be extended to any new system of consolidated finance after it is put in place.
(BMcC/GK)
In his Budget statement on Tuesday, the Chancellor George Osborne announced that payment to the Civil List for calendar year 2011 will be unchanged at £7.9m.
That's despite it being at the same level for over two decade, having been at that level set in 1990 - which means the real value of the payment is down 76%.
In terms of detail, the royal Household spending on support of The Queen in duties as Monarch in 2011 will actually fall from £15.1m to £14.9m - with the £7m difference financed from the Civil List Reserve.
However, this is also a lower payment, as the Civil List Reserve is a fund built up through careful housekeeping undertaken by The Queen since 1990.
Then, in 2012, support of The Queen will be simplified, and, building on the transparency that already applies to royal finances, the Government and Royal Household will develop a new system of consolidated finance.
"This simpler approach will be conducive to greater efficiency and promote public understanding of Royal finances," said an official Government statement yesterday.
With the support of the Royal Household, the National Audit Office will also be responsible for the audit of the Civil List accounts and lay them in Parliament.
This will align the Royal Household's business accounts to the same standard of scrutiny as Government departments.
This approach will also be extended to any new system of consolidated finance after it is put in place.
(BMcC/GK)
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Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
