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https://www.theguardian.com/uk-news/2016/nov/18/buckingham-palace-to-undergo-370m-refurbishment
I dont really have a bone to pick with this but I am curious as to what the locals think. How popular is the monarchy in the UK? Are they a cash drain or does the income they generate for the country more than make up for their expenses?
The Queen has been awarded a 66% pay rise to fund a £369m 10-year refit of Buckingham Palace designed to future-proof the ageing building, it has been announced.
Theresa May, Philip Hammond and the Queen’s keeper of the privy purse, Sir Alan Reid, who are the royal trustees, agreed that the temporary pay increase was the best way to pay for urgent repairs.
The major refit, which has been described as essential, will see miles of ageing cables, lead pipes, electrical wiring and boilers replaced, some for the first time in 60 years. Officials said an independent, specialist report had concluded that without urgent work “there is a risk of serious damage to the palace and the precious royal collection items it houses from, amongst other scenarios, fire and water damage”.
The money will come from a 66% increase in the sovereign grant – the funding formula under which the Queen normally receives 15% of the annual profit from the crown estate. She will now receive 25% for the 10 years the work is taking place. When it is finished in 2027, the grant should be returned to 15%, the royal trustees said.
I dont really have a bone to pick with this but I am curious as to what the locals think. How popular is the monarchy in the UK? Are they a cash drain or does the income they generate for the country more than make up for their expenses?