Royal Fortune: Tax, Money & the Monarchy
- Publish Date: 1992-09-14
- Binding: Hardcover
- Author: Phillip Hall
Throughout the 20th-century while more and more people have been caught in the tax net, British monarchs have successfully lobbied to escape taxation and to accumulate investment wealth. This book takes us into the secret world of royal finances. After years of research, the author has picked his way through the smokescreens which have concealed the surprisingly recent arrangements providing the Queen with an onshore tax haven. He examines the monarch's and the government's claims that Crown Immunity legally exempts the Queen and even the Prince of Wales on his Duchy of Cornwall from taxation. The Queen's total wealth is dazzling. The author asks new and important questions about these immense royal riches. Should jewels given to monarchs as Heads of State become the Queen's private heirlooms? He queries the official view that the Queen rightfully owns the Duchy of Lancaster estate on grounds that it is contradictory and misunderstands the Duchy's history. The works of art could fill a national museum of outstanding quality: most, it is understood, cannot be sold but they are used to project the royal image, as are the archives. Should the taxpayer pay for servants to work for the Queen whilst essentially she is on holiday? Is it justifiable that the British monarchy should cost five to six times more to run than the German presidency? Does the Monarchy really bring trade and tourism to Britain? Should the monarch continue to enjoy such special legislation to keep her investments secret? Why should the Queen be allowed to discriminate on grounds of sex and race when employing courtiers? Queen Elizabeth is the wealthiest woman on Earth, with a #6.6 billion fortune which grows by as much as 25 per cent a year.