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Queen Elizabeth II's household finances reached a record low of just over 1 million pounds, sparking calls from lawmakers to cut costs and boost income at Buckingham Palace.
Britain's royal household appears to have a case of champagne dreams on a beer budget.
A report published Tuesday outlined the finances of Queen Elizabeth II's household, revealing crumbling palaces and depleted coffers.
British lawmakers called on the queen to cut staff and open up Buckingham Palace to visitors more often in order to boost income.
The House of Commons Public Accounts Committee accused the household of overspending.
The report read: "However, we feel that The Queen has not been served well by the Household and by the Treasury, which is responsible for effective scrutiny of the Household’s financial planning and management."
Emergency cash reserves for the royal household hit a historic low of 1 million pounds ($1.6 million), while at least 39 percent of royal properties were deemed to be in an unacceptable state.
“The boiler in Buckingham Palace is 60 years old,” committee chair Margaret Hodge told the BBC. “The household must get a much firmer grip on how it plans to address its maintenance backlog.”
As for the royal household, Twitter had some very helpful suggestions on how to raise money. Of note were the 8 "ingenious" suggestions from British tabloid The Daily Mirror.
The Queen has been told to think of some money making ideas. Here are mine: http://t.co/erBm2VZagm Harry will LOVE it.
— fleetstreetfox (@fleetstreetfox) January 28, 2014
We could raise money to repair Buckingham Palace by imposing a levy on its occupiers for each unused bedroom. #royalbedroomtax
— Antony Holt (@Hasselschmuck) January 28, 2014
I believe the next series of Benefits Street is to be filmed at Buckingham Palace.
— Cornish Blu (@1cornishblue) January 28, 2014
The authorities of Buckingham Palace are moaning that they don't have enough money for the maintenance of the Palace. Please do be serious!
— Chloe Gordon-Morris (@chloegmorris) January 28, 2014
The Queen has been told she should rent out Buckingham Palace for events - do you think she would let me have the throne Room for my 50th?
— Janice Jones (@janicejones28) January 28, 2014
— Sagar Barua (@tweetbarua) January 28, 2014