Queen Elizabeth told to rein in spending

The British royal family was criticized in a budget report prepared by the House of Commons Public Accounts Committee, which found the royal household overspent last year's budget and dipped into already reduced reserve funds.
Posted By JC Finley  |  Jan. 28, 2014 at 11:45 AM
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LONDON, Jan. 28 (UPI) -- According to a House of Commons Public Accounts Committee report, the royal family overspent their $51.4 million 2012-2013 budget, and has been told to rein in current spending so as not to dip again into reserve coffers.

The reserve fund dipped from $58 million in 2001 to $1.6 million in 2014.

In the report, politicians criticized Queen Elizabeth II for failing to use some of the funds on necessary repairs to Buckingham Palace, a need allegedly cited by the Queen as reason for a "raise" toward last year's budget.

PAC Chairman Margaret Hodge said "The Household needs to get better at planning and managing its budgets for the longer term - and the Treasury should be more actively involved in reviewing what the Household is doing."

[The Telegraph] [International Business Times]

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