Smart Business

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British taxpayers each paid 61 pence ($1.12) in the last financial year to support Queen Elizabeth II and the royal family, Buckingham Palace said Wednesday in an annual summary of its expenses.

The palace, which has been under political pressure to control costs in recent years, said the senior royals’ expenses totaled 36.7 million pounds ($67.1 million) in the fiscal year that ended March 31, down 0.3 percent from the previous year. Adjusting for inflation, spending was down 2.3 percent, the palace said.

When you factor in the tourist dollars the monarchy generates for the UK, keeping the Queen is actually a smart business decision.

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Erick Erickson

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