Queen Elizabeth II’s finances to be investigated

London: Queen Elizabeth II is likely to face a inquiry into her finances and expenses by British MPs due to a recent change in law.

Money given to junior royals to support their work backing up the Queen will also be scrutinised while the committee may also want to examine whether Buckingham Palace is doing enough to raise money itself by selling the royal brand.

For example, while Buckingham Palace now opens to paying visitors during the summer, some have argued it should be open all the year round.

Two of the Queen’s other castles, Balmoral and Sandringham, have no public access at all – despite their multi-million pound maintenance costs.

The Estate’s profits have been paid to the Treasury and taxpayers since 1760, after George III handed the Crown’s property to the state in return for an annual fee to support his duties.

In April this year, Buckingham Palace will receive 36.1 million pounds (about USD 57 million) to fund the Queen’s official duties, a 16 percent increase on the 31 million pounds paid by taxpayers last year.