That figure of course excludes the Queen's and her family's private wealth.
The Telegraph states that the report by the Commons public accounts committee found that the Queen’s advisers were failing to control her finances while the royal palaces were “crumbling”.
Margaret Hodge, the Labour chairman of the committee, 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.”Seemingly staff must catch rain in buckets to protect art and antiquities.
One suggestion mooted is for the palaces to be made more available for the public to visit (on a pay as you enter basis) on a more regular basis when the Queen is not in residence.
That is all very well, but given that the taxpayer is already funding the upkeep of the palaces and monarchy etc this suggestion is merely passing the bill/buck back to the taxpayer.