The Royal Family Have Money Problems Too! The Queen's Fund 'Is Down To Last £1m'

The Queen's household finances are said to be in a bit of a state - with only £1 million left in her reserve fund.

To put that number in context, there was reportedly £35 million in the same fund back in 2001, according to MPs today - as quoted by the Daily Telegraph.

The Royal household allegedly made efficency savings of just 5 per cent over the last five years. Government departments, by comparison, have been cutting their budgets by up to a third.

The Royal Family Have Money Problems Too! The Queen's Fund 'Is Down To Last £1m'

Queen Elizabeth II (WENN)

A report by the Commons public accounts committee has said that Her Majesty's advisers aren't controlling her finances well enough, and that the royal palace is "crumbling" due to ongoing maintenance issues.

Margaret Hodge said: “We believe that the Treasury has a duty to be actively involved in reviewing the household’s financial planning and management — and it has failed to do so.”

The Telegraph adds that the Queen's old boilers are racking up bills of £774,000 a year.

A Buckingham Palace spokesperson said that repairing the royal palaces is a "significant financial priority", adding that the household has doubled its income since 2007.

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