Former UK Prime Minister David Cameron and former Chancellor George Osborne addressed Queen Elizabeth and the royal family’s purported financial problems in a new book, according to Express UK.
Speaking with royal scholar Robert Hardman for his biography Queen of our Times: The Life of Elizabeth II, the duo revealed that the royal household was ‘running out of money’ at one point and had to accept a ‘generous’ arrangement to keep afloat.
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When Cameron and Osborne were elected in 2010, they worked hard to restore the monarchy’s financial status by establishing the ‘Sovereign Grant.’
The former UK PM said of the crown: “They were running out of money to fix things.”
“The Treasury saw an opportunity to do a big, bold reform and I think George Osborne relished it because the historian in him loved the idea of trying to fix this long-standing problem. I thought this was a great challenge for the relationship between No 10 and the Palace: can we get this done?” said Cameron.
“It was generous, but I don’t mind. It was better to have something that was long-term sustainable” Cameron added.
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