Abolish the farce that is the monarchy
Back in the 1970s, Queen’s consent was used to arm-twist the government into exempting the Queen from having to reveal the nature and extent of her investments. The convoluted creation of an artificial structure called the Bank Of England Nominees had as its sole raison d’etre a method to keep the truth from the public.
We got a glimpse into the nature of these investments from the emergence in 2017 of the Paradise Papers, which showed that a great deal had been invested in offshore tax havens, including the notorious Cayman Islands. One beneficiary was BrightHouse, a retailer accused of exploiting thousands of poor and vulnerable individuals.
But it is the fear that the Queen might have to reveal the enormous extent of her wealth that really worries the palace. I estimate that the Queen has a private wealth of well in excess of £1bn.
How Queen’s consent raises questions over UK democracy
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The Sovereign Grant Act 2011, which replaced the old civil list, will naturally have required Queen’s consent. It is called marking your own homework. The 2011 Act has immeasurably increased the wealth of the Queen, who for example now gains a windfall of many millions from the use of the seabed for offshore wind, money that before 2011 would have gone in its entirety to the Treasury. The civil list provided her with £7.9m in 2010/11. The Sovereign Grant in 2018/19 gave her £82.8m. She is ripping off the nation.