February 14, 2014

Britain's Royal Welfare Queen

Kenan Malik, New York Times

The Associated Press

The British queen is down to her last pennies. Well, actually, her last millions of pennies. Last month, the Public Accounts Committee — Parliament’s watchdog on public spending — published a damning survey of the state of the royal finances. The queen had spent down her “reserve fund,” a savings account built up by years of surplus public subsidy, to “a historically low level” of only £1 million ($1.6 million), from £35.3 million in 2001.

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TAGGED: Queen Elizabeth II, UK

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