MPs seize Queen’s purse
Published 23/09/2010 | 00:01
The Queen has been forced to give up the ultimate right to manage the Palace's financial affairs in a secret deal signed by Palace aides and the Government.
A ‘financial memorandum’ formalising the relationship between the sovereign and ministers also sets out tough terms on how the Queen can spend the £38.2m handed over by Parliament each year to pay for her staff and occupied palaces. T
he document, disclosed under the Freedom of Information Act, grants ministers the right to take over the management of the Queen's public wealth in the event of a disagreement.
Last night experts said the memorandum could be used by ministers to force the Queen to cut back or even fall back on her private wealth.