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cashinmattress

Value Of Queen's Estate Falls 19%

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VALUE OF QUEEN'S ESTATE FALLS 19%

THE Queen has suffered a fresh blow in the recession after the value of her private estate plummeted by 19 per cent because of a crash in the property market and shares.

Her Duchy of Lancaster estate, which provides an income for the monarch that she uses to pay allowances to other members of the Royal Family including Princes Andrew and Edward, along with Princess Anne, fell in value from £399million to £322m in accounts published yesterday.

But by cutting costs and with careful management she still increased her annual profit from the Duchy, a 46,000-acre estate that has provided an income for the sovereign since it was established by Henry IV in 1399.

Her surplus, which goes into the Privy Purse and is used to pay for many of her family’s official duties not covered by Government grants, rose by 5.4 per cent from £12.6m to £13.3m in the financial year ending on March 31.

Lord Shuttleworth, chairman of the Duchy’s council, said: “We have ­suffered a substantial fall in the ­capital value of our assets during the year, principally in the commercial property and financial investment portfolios.â€

In its report, the Duchy detailed how its financial portfolio dropped by 26.2 per cent in value after across-the-board losses in stocks, shares and other investments.

It saw the value of its commercial property drop 23.6 per cent amid a dramatic fall in demand for office space.

The Queen, who received £41.5m from the taxpayer last year to support her work as head of state, has increasingly had to dip into the Privy Purse to pay for her family’s official duties.

As well as the Duchy of Lancaster, which makes up the bulk of the Privy Purse, she has her own private ­fortune, valued at £270m. But that has plummeted by £50m in the last year.

Take that you privileged bee-atch!

ha-ha.jpg

But really? Who's in the market for palaces? And what agents put valuations on this stuff?

Can you picture some twot in a pinstripe suit pulling out his 8' tape measure and spouting off confusing market jargon to the old crow?

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But she's holding out for '07 prices, someone said.

A local EA said "HM won't let BP go for the XXXmillion Andrews said it was worth in July 2007. She's no fool. Sit on it and it'll rise".

Edited by pie-eater

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The queen is just a figure-head.

She isn't the real/wealth power in this country.

That would be Rothschild.

My theory is that they trash the value of her pittance of an estate, report it in the media.

People feel sorry for rich people a bit.

While their wealth obviously skyrockets as they gauge the stupid classes

through the utterly corrupt banking system / engineered housing crash.

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