Saturday, 19 November 2016

A Bargain

Buckingham Palace is to undergo a major 10-year refurbishment, costing nearly £370 million.
The refit, described by officials as “essential”, will include replacing boilers and miles of cables, pipes and electrical wires when it begins in April next year, subject to parliamentary approval.
The money will come from a 66% increase in the sovereign grant – the funding formula for the monarchy’s official duties – for the 10-year period, with the total works estimated to cost £369m.
When the work is finished in 2027, the grant should be returned to its current level of 15%, a review by the royal trustees – the prime minister, Theresa May, the chancellor, Philip Hammond, and the keeper of the privy purse, Sir Alan Reid – recommended.
More at TG

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