The Queen of England’s Budget Crisis

The oh-so-shiny Imperial Crown of India, part of Queen's Elizabeth's Crown Jewels. Flickr photo by Pietro & Silvia.

The oh-so-shiny Imperial Crown of India, part of Queen’s Elizabeth’s Crown Jewels. Flickr photo by Pietro & Silvia.

I woke up this morning to what can only be described as a sign of the apocalypse: The Queen of England is out of money!  How can this be?!

Yes, in case you missed it, the British House of Commons’ public accounts committee has just released a report in which it states that the Queen’s reserve fund has dwindled from £35 million in 2001 to a measly £1 million today.  While many UK government departments have been making sweeping cuts as part of the coalition government’s austerity drive over the last few years, Her Majesty’s household has only managed to trim its expenses by 5%. Continue reading