Sunday, Apr 26, 2015Sunday, Apr 26, 2015
 

British MPs criticise Queen's household finances

Published on Jan 28, 2014 10:12 AM
 
Britain's Queen Elizabeth II arrive for a visit to Southwark Cathedral in London on Nov 21, 2013. British lawmakers on Jan 28, 2014, urged Queen Elizabeth II's royal household to do more to reduce running costs and produce clearer plans for the monarch's financial future. -- FILE PHOTO: AFP

LONDON (AFP) - British lawmakers on Tuesday urged Queen Elizabeth II's royal household to do more to reduce running costs and produce clearer plans for the monarch's financial future.

The Public Accounts Committee (PAC) report also highlighted a backlog of property repairs as a cause for concern.

"There is scope for the household to generate more income and reduce its costs further," said committee chairman Margaret Hodge.

"Since 2007-08, the household has cut its net costs by 16 per cent in real terms, but 11 per cent of that was achieved by increasing income, and just 5 per cent by reducing expenditure.

 
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!