This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/uk-25922896
The article has changed 4 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Royal overspend prompts call to open palace doors | Royal overspend prompts call to open palace doors |
| (about 5 hours later) | |
| Buckingham Palace should be opened to more paying visitors when the Queen is not in residence to fund improvements to the royal estate, MPs have said. | Buckingham Palace should be opened to more paying visitors when the Queen is not in residence to fund improvements to the royal estate, MPs have said. |
| The influential Public Accounts Committee criticised the Royal Household for mismanaging its finances. | The influential Public Accounts Committee criticised the Royal Household for mismanaging its finances. |
| Chairwoman Margaret Hodge said there was "huge scope for savings" on the annual £31m of taxpayer funds given to the Queen to spend on official duties. | Chairwoman Margaret Hodge said there was "huge scope for savings" on the annual £31m of taxpayer funds given to the Queen to spend on official duties. |
| But a spokeswoman for the royals said spending was now more transparent. | But a spokeswoman for the royals said spending was now more transparent. |
| The Sovereign Grant replaced the old Civil List and grants-in-aid system in 2012 and is used to fund royal duties, pay staff and maintain palaces. | The Sovereign Grant replaced the old Civil List and grants-in-aid system in 2012 and is used to fund royal duties, pay staff and maintain palaces. |
| The report said Buckingham Palace had overspent on the grant by £2.3m last year and had to dip into its reserves, "leaving a balance of only £1m at 31 March 2013 - a historically low level of contingency". | |
| Ms Hodge said the committee's report was the first time the grant had been scrutinised and that it was an opportunity to check how the Queen's funds were being managed by the Royal Household and the Treasury. | Ms Hodge said the committee's report was the first time the grant had been scrutinised and that it was an opportunity to check how the Queen's funds were being managed by the Royal Household and the Treasury. |
| "We found she could be much better served," the MP told BBC News. | "We found she could be much better served," the MP told BBC News. |
| "They're spending above their means, they're dipping into the reserves and the balance now stands at an all-time low." | "They're spending above their means, they're dipping into the reserves and the balance now stands at an all-time low." |
| The committee's report found: | The committee's report found: |
| While the committee praised the Royal Household for generating £11.6m last year - up from £6.7m in 2007/08 - it said more could be done. | While the committee praised the Royal Household for generating £11.6m last year - up from £6.7m in 2007/08 - it said more could be done. |
| "They've tried to increase the money they get in by opening up Buckingham Palace," Ms Hodge added. "But there's more to be done to get more income in." | "They've tried to increase the money they get in by opening up Buckingham Palace," Ms Hodge added. "But there's more to be done to get more income in." |
| "Buckingham Palace is a lived-in palace... but when the Queen is not there you could actually open it up." | |
| She said boosting annual visitor numbers from the current half a million would help pay for upgrades to cut electricity and gas bills. | She said boosting annual visitor numbers from the current half a million would help pay for upgrades to cut electricity and gas bills. |
| And she said it would fund improvements both to Windsor Castle and to the Victoria and Albert Mausoleum, which had been waiting 18 years for repairs. | And she said it would fund improvements both to Windsor Castle and to the Victoria and Albert Mausoleum, which had been waiting 18 years for repairs. |
| Art collection | |
| Buckingham Palace's "state rooms" - those designed for monarchs to "receive, reward and entertain their subjects and visiting dignitaries" - have been open to the paying public during August and September since 1993. | |
| Profits initially helped to pay for the restoration of Windsor Castle, which was fire-damaged in November 1992, and now go to the Royal Collection Trust charity, which manages the Royal Collection - "one of the most important art collections in the world". | |
| A Buckingham Palace spokeswoman said: "The move to the Sovereign Grant has created a more transparent and scrutinised system, which enables the Royal Household to allocate funding according to priorities. | A Buckingham Palace spokeswoman said: "The move to the Sovereign Grant has created a more transparent and scrutinised system, which enables the Royal Household to allocate funding according to priorities. |
| "This has resulted in a more efficient use of public funds." | "This has resulted in a more efficient use of public funds." |
| She added that it was a priority for the Royal Household to "reduce the backlog in essential maintenance across the occupied royal palaces". | She added that it was a priority for the Royal Household to "reduce the backlog in essential maintenance across the occupied royal palaces". |
| A Treasury spokesman said "The new arrangements established by the Sovereign Grant Act have made the royal finances more transparent than ever while providing the long term stability necessary for good planning." | A Treasury spokesman said "The new arrangements established by the Sovereign Grant Act have made the royal finances more transparent than ever while providing the long term stability necessary for good planning." |
| The committee had not properly taken these changes into account, he added. | The committee had not properly taken these changes into account, he added. |
| The Sovereign Grant was £31m last year and is set to rise to £37.9m by 2014-15. |