Even the Queen is taking a pay cut these days
Today is a potpourri of news, economic and otherwise.
On the money side, we know that Canada’s economy – eh, it’s kind of stalled thanks to lax automobile production. Add to that, Alberta’s teachers are facing massive budget cuts and it’s becoming clear this whole recovery thing is a lot tougher than we initially thought.
But Prince William and Kate Middleton have also touched down in Ottawa, so we feel obliged to find a royal hook to all these financial headlines.
(Searching … searching … here we go … ) Wanna know how bad the economy is? Even the Queen is taking a pay cut.
According to the Globe and Mail, tough times in Britain are forcing its government to retool how Queen Elizabeth will receive her funding.
Under the proposed change, which is still to pass through Parliament, the Queen will take what amounts to a nine per cent cut over the next four years.
Though it’s been in place since 1760, the way the Queen gets funded has gone through some changes over the years.
By 2014-2015, Chancellor of the Exchequer George Osborne said the proposed cuts would limit the Queen to 15 per cent of the annual profits of the Crown Estate, a string of lucrative properties in and around the U.K. The Crown Estate holds urban and rural land in England, Scotland and Ireland.
Of course, “limit” may be a poor choice of words here. By Osborne’s estimation, the Queen will still receive about $54 million each year to perform her royal duties, which we can’t imagine come too close in cost to that figure.
Still, it’s a sign that the economy still isn’t right when the Queen, of all people, has her payouts slashed.
Britain, where almost 2.5 million are unemployed, is trying to reign in a budget deficit of about 10 per cent of the country’s GDP.
By Jason Buckland, MSN Money
Posted by: kirk | Jul 4, 2021 7:55:30 PM
Sercee: if we are going to return all the land, what makes you think it should go to the natives?
Posted by: Mary BRENT | Jul 4, 2021 8:16:11 PM
ACTUALLY THE QUEEN, HER MOTHER,THE QUEEN MUM, HAVE DONE A LOT FOR THEIR COUNTRY. DURING WORLD 11 THEY OFFERED TO TAKE THE QUEEN MUM OUT OF LONDON
DURING THE BOMBING OF LONDON AND SHE SAID "NO I WILL STAY WITH MY PEOPLE".
SHE INSPIRED HER PEOPLE TO HOLD OUT AGAINST TERRIBLE ODDS WHILE GERMANY BOMBED LONDON DAY AND NIGHT. iI WONDER IF ANY OF THE REST OF THE PEOPLE MAKING
RUDE CRITIICAL COMMENTS ABOVE HAVE SACRIFICED FOR THEIR COUNTRY LIKE THE
QUEEN MUM. REMEMBER THAT THE PRESENT QUEEN WAS ONE OF THE CHILDREN WHO
STAYED DURING THE BOMBING OF LONDON. HAS EVERYONE FORGOTTON HISTORY?
THINK BEFORE YOU POINT FINGERS AND ASK YOURSELF"WHAT HAVE I DONE...HAVE ANY YOU BEEN IN AWAR ?" SHOW RESPECT.
RESPECT.
Posted by: jk | Jul 4, 2021 8:42:09 PM
OK so let's take the number 54 million as given. So we have 54 million a year, that's about 1,038,461.50 per week, or about 147,843.94 per day or about 6160.1641 per hour based on a 24/7 schedule. She is, after all still the queen when she's sleeping or walking her Corgis. So every second, she earns about 102.6694. But when you really think about it, 54,000,000 isn't what it used to be so if we give her a 2% raise based on performance and as a nod to inflation, she gets another 1,080,000. By anyone's reckoning, that's not a bad gig. Especially when she isn't expected to really do anything intelligent like make a decision on policy (good thing eh!?) just troop the colours and yak to the PM and try to keep her kids and peripheral family out of the tabloids or Youtube. I would like to invite you to imagine what a formal job decsription for a British monarch would contain. It would contain more items which that monarch must not do than a "do" list. Core competencies would include having a resiliant bladder and the ability to talk with a funny accent, about things everyone knows more about than you do. I like the idea of having a royal kitchenette in my palace bedsitter however because aything ordered from the roya kitchen would likely be cold by the time it was delivered ... or warm if you ordered beer. Cars and horses are good so you must be able to drive and ride. The list goes on .. you can't eat with your hands in public or throw food or fart loudly while delivering a Christmas message to the countries tied somehow to England by custom or habit. On the other hand I like my pizza delivered and well, my own privacy. "Uneasy lies the head that wears a crown". That by itself is worth something. It's all just, soooo exhausting .... and I like my zzzzs
Posted by: Frank | Jul 4, 2021 8:46:37 PM
Right on Jeff!! Glad to read something intelligent after all that trash (especially from Chip). Like it or not, the Monarchy is OUR monarchy and the Queen is OUR Queen. Anyone who does not like it, too bad, just suck it up and shut up.
Posted by: Eve | Jul 4, 2021 8:50:46 PM
True Canadian, Sercee, Jeff - totally agree.
These visits do generate money for the Canadian economy. And, I think these are ways of promoting friendly relations. We'd do the same for the US president, etc., to strengthen relationships. I think Canada has to do this - if anything should happen to us (attacks, etc.,) they would definitely help. We could never "defend" ourselves without them. So, like invited guests, we should treat them.
Posted by: Mary BRENT | Jul 4, 2021 9:19:46 PM
my comment did not show in the comments. what happened.
Posted by: Donna | Jul 5, 2021 12:08:52 AM
Thank You "True Canadian" and "Jeff" ! I was beginning to feel embarassed to call myself a Canadian after reading so many class-less and ignorant comments.
"Russ R.",did you notice how The Duchess of Cambridge gave special attention and time to the children and elderly people? Perhaps you have another "real Queen of England" in the making.l
Posted by: John S | Jul 5, 2021 1:24:38 AM
@ Mary Brent, what was the point of your rant? Most of my family from that generation gave the ultimate sacrifice during that war. I guess loss of life for a commoner is insignificant! You talk about respect? Show some yourself.
Posted by: Nigel C Hawkins | Jul 5, 2021 5:41:12 PM
I think it's a jolly good idea! and quite generous of Her Majesty to take a cut in her property revenue.
If only more people would,and maybe donate the cut directly to hospices,Veteran's,and schools,they could help in some small way and 'do their bit', just like 'Her Majesty' is.Jolly good I say!!
-Nigel Hawkins
Posted by: Nigel C Hawkins | Jul 5, 2021 5:45:08 PM
I say Jeff,nicely put,my Parents taught me that manners will get you further in this world than anything else!
Bravo! Sir
-Nigel hawkins
Posted by: Jason | Jul 5, 2021 8:49:32 PM
"The Crown Estate holds urban and rural land in England, Scotland and Ireland." You're forgetting something Jason, hmmm wonder what it is? How many countries make up the U.K.??? You're forgetting Wales.
Idiot.
Posted by: SP | Jul 7, 2021 4:30:06 AM
The 85 year old Queen and a number of members of her family work year round advertising for England and the commonwealth. Would YOU go on 'vacation' to the Yukon? The Falkland Islands and countless hospitals full of contagious people? Would anyone? I look at the Royal family this way, either you have the Queen or you have heads of state like George Bush, Brian Mulroney and Kim Campbell. We can either have the Royal family with no real power or a much more expensive head of state with real power. There is a reason why Cromwell didn't last in England.