Royal Bankruptcy: Queen Elizabeth II Could Cause MASSIVE DEBT For Royal Family
The royal family is on the verge of losing millions in income this year, but Queen Elizabeth II could potentially worsen the situation.
Due to the prolonged coronavirus lockdown, Queen Elizabeth II and the other members of the royal family have to keep themselves away from royal engagements. This will ultimately cause a significant impact on their finances, as well as their workers.
The monarchy is expected to lose more millions after the tourism business of the royal residences has been put on hold. With the U.K. economy also suffering due to the coronavirus pandemic, the £70 million they get from British taxpayers' money could also be affected.
Aside from these problems, Her Majesty's lavish lifestyle -- which she does not want to change -- could make it even harder for them to get up back again. In the end, it could even lead to a larger debt for the royal family.
Per Express U.K., Queen Elizabeth II is reportedly facing "eye-watering bills" despite not generating income from her luxurious lifestyle.
In the show Spending Secrets of the Royal Family," royal expert Katie Nicholl shared how the British royal family is famous for their lavish spending since the beginning.
"Royal residences are incredibly expensive to run, and the bills really are eye-watering," Nicholl said. "In an age of belt-tightening, their costs keep rising. The taxpayer now gives the Queen more than £70million every year."
Meanwhile, royal expert David Sassoon pointed out that the royal family does not have a budget for "interesting" pieces they want, specifically Queen Elizabeth II's wardrobes.
Her Majesty has been reported to have a very detailed process in dressing herself up, so much so that she even changes her clothes five times a day.
However, if she would continue to spend their funds to supply herself with such stuff, she could risk the royal family's finances on the line.
Behind Queen's Expensive Fashion Sense
Throughout her reign, Her Royal Highness always makes sure that she stands out whenever she is in public. To guarantee it, she follows a routine and makes sure to choose the best "costume" for the day.
Before the longest-reigning female monarch begins her day, she follows a practice where the royal staff assists her by bringing down the outfits from the top floor of the palace.
Former royal butler Paul Burrell previously said to Yahoo U.K, "Her dresser will bring down two outfits in the morning, with pieces of material clipped to them so that the Queen can remember whether it's silk or cotton or wool."
In 2016, Sophie, the Countess of Wessex, disclosed in the documentary "The Queen at 90" that Her Majesty wants her clothes to make her stand out so that the people can say that they saw the Queen.
Queen Elizabeth II triumphantly blooms anywhere since she only wears monochromatic-colored outfits from her wardrobe.
Nonetheless, there is one color that Her Royal Highness will surely never wear: beige.
"Her Majesty once said, 'I can never wear beige because nobody will know who I am,' and she guarantees that she will have people's attention through her costumes' colors," royal biographer Robert Hardman said.
