DOCSLIB.ORG

Finances of the Monarchy

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Finances of the Monarchy BRIEFING PAPER Number SN00819, 25 July 2017 By Cassie Barton Finances of the Monarchy Contents: 1. Sources of funding 2. The Crown Estate 3. Previous arrangements 4. Taxation 5. The Prince of Wales www.parliament.uk/commons-library | intranet.parliament.uk/commons-library | [email protected] | @commonslibrary 2 Finances of the Monarchy Contents Summary 3 1. Sources of funding 5 1.1 The Sovereign Grant 5 1.2 The Privy Purse 6 1.3 Private income 7 2. The Crown Estate 9 3. Previous arrangements 10 3.1 The Civil List 10 3.2 Grants-in-aid and other sources 11 3.3 Official expenditure 1992-2011 11 4. Taxation 12 5. The Prince of Wales 13 5.1 Income and expenditure 13 5.2 Duchy of Cornwall 13 Cover page image attributed to: Max Pixel / Fence Detail Buckingham Palace London. Licensed by Creative Commons Zero (CC0 1.0) 3 Commons Library Briefing, 25 July 2017 Summary This briefing provides information about the Royal finances. It includes figures for the official income and expenditure of the Queen and the Prince of Wales. The Sovereign Grant Act 2011 changed the way in which the Monarchy is funded. The Act removed two existing sources of funding for the Queen – the Civil List and grants-in- aid from Government departments – and replaced them with a single ‘Sovereign Grant’. This arrangement has been in place since 1 April 2012. The Queen currently receives three kinds of income: • The Sovereign Grant is used to meet official expenditure. To date, the Grant has been set at 15% of the profits of the Crown Estate, although this will rise to 25% next year. The rest of the Crown Estate’s profits go to the Treasury. The Sovereign Grant was £42.8m in 2016-17, of which £41.9m was used to meet official expenditure and £0.9m was transferred to the Sovereign Grant Reserve. • The Privy Purse is the private income to which the Queen is entitled as Sovereign, and comes from the net revenue of the Duchy of Lancaster (£19.1m in 2016-17). The Privy Purse is taxable to the extent that it is used for private purposes, but is also used to meet some official expenditure. • Her personal income, derived from her investment portfolio as an individual. As with any other individual, information about the Queen’s private funds is not made public. The chart below summarises how this income was generated and used in 2016-17. Finances of the Monarchy, 2016-17 15% of net 100% of net revenue from revenue from Private The Crown The Duchy of investments Estate Lancaster The Sovereign The Privy Personal Grant Purse income An annual The private Of the Queen as payment to meet income of the an individual – official costs Sovereign* information not £42.8m £19.1m made public Official Private expenditure expenditure Including staff costs Including expenses of (£21.7m) and property other Royals, upkeep maintenance (£17.8m) of Balmoral * Privy Purse income is primarily used for private expenditure, but helps meet some official costs. 4 Finances of the Monarchy Prior to the Sovereign Grant Act 2011, official expenditure was met using an annual Civil List payment and grants-in-aid provided by government departments for specific purposes. Direct payments from the government and Crown Estate were also used to meet official costs, although this type of expenditure declined over the last twenty years of the old system. More detail on the previous system is available in a Library research paper published when the Sovereign Grant Bill was in progress (RP11-57). The National Audit Office (NAO) also published a report on the Sovereign Grant in 2013. The Prince of Wales’ official costs are primarily met from his income from the Duchy of Cornwall. He is entitled to the net revenue of the Duchy, but currently pays income tax at the top rate. In 2016-17, the Prince of Wales received £20.7m from the Duchy of Cornwall (before tax). He also received £1.8m in payments from government departments and the Sovereign Grant in order to meet official expenditure. Overall expenditure (including tax and personal expenditure) was £22.3m, leaving a net surplus of £0.2m. All statistics used in this report are published in full in supplementary tables, available online. 5 Commons Library Briefing, 25 July 2017 1. Sources of funding There are currently three sources of funding for the Queen, or officials of the Royal Household acting on Her Majesty’s behalf, in both a public and private capacity. 1.1 The Sovereign Grant Following the passage of the Sovereign Grant Act 2011, the Sovereign Grant replaced two of the four previous sources of funding for the Monarchy on 1 April 2012. Before 2012, the Queen received an annual Civil List payment as well as several grants-in-aid from the Government intended to meet specific costs. Section 3 describes the previous system in more detail. The Sovereign Gant is administered by the Treasury and the Act provides for: 1 • new consolidated Sovereign Grant payment to support HM The Queen in Her official duties; • full parliamentary approval and scrutiny of grant expenditure; • continuation and modernisation of support to the heir to the throne; • continuation of grant arrangements on accession of a new monarch; and • rationalisation of payments to annuitants. The Grant is designed to be a more permanent arrangement than the old Civil List system, which was reign-specific. Since 2013-14, funding for the Sovereign Grant has been based on a proportion of the net revenue of the Crown Estate. This was initially set at 15% of the profits for the financial year two years previously. The grant is reviewed every five years by the Royal Trustees.2 The Royal Trustees have agreed that, from 2017-18, the Sovereign Grant will rise to 25% of profits of the Crown Estate two years previously. This means that the Sovereign Grant for 2017-18 will be £76.1m. The additional revenue is to be used to fund the refurbishment of Buckingham Palace. Section 2 of this briefing has more information about trends in the net revenue of the Crown Estate. The table overleaf shows how the Sovereign Grant has been used in combination with other income to meet official expenditure to date. The Sovereign Grant for 2016-17 was £42.8m, of which £41.9m was 1 HM Treasury, Sovereign Grant Act – Accessed 11 September 2014 2 The Prime Minister, the Chancellor of the Exchequer and the Keeper of the Privy Purse. For detailed information about the Sovereign Grant Bill see Library Research Paper 11/57 at http://www.parliament.uk/briefing-papers/RP11-57.pdf 6 Finances of the Monarchy used to meet official expenditure and £0.9m was transferred to the Sovereign Grant Reserve. Expenditure met with the Sovereign Grant has risen 26% over the last five years. This has partly been driven by a rise in spend on ‘property maintenance and other major projects’, which increased by 96% in the same period. Table 1: Income and expenditure of HM The Queen £ million 2012-13 2013-14 2014-15 2015-16 2016-17 Sovereign Grant income 33.3 35.7 35.7 39.8 41.9 Sovereign Grant 31.0 36.1 37.9 40.1 42.8 Transfer to / from Sovereign Grant Reserve 2.3 -0.4 -2.2 -0.3 -0.9 Other income 11.6 13.4 13.3 13.9 14.9 Property rental 3.0 3.2 2.8 2.9 3.1 Facilities management charges 3.7 4.4 4.5 5.1 5.3 Recharges for functions and other income 4.9 5.8 6.0 5.9 6.5 Total expenditure 44.9 49.1 49.0 53.7 56.8 Payroll costs 18.3 18.2 18.7 19.5 20.3 Other staff costs 1.2 1.3 1.2 1.4 1.4 Property maintenance and other major projects 9.1 13.3 11.7 16.3 17.8 Travel 4.5 4.2 5.1 4.0 4.5 Utilities 3.1 3.3 3.4 3.3 3.1 Housekeeping and hospitality 1.9 2.0 2.1 2.1 2.2 Other 6.8 6.8 6.8 7.1 7.5 Expenditure met with Sovereign Grant 33.3 35.7 35.7 39.8 41.9 Surplus 0 0 0 0 0 Source: The Sovereign Grant and Sovereign Grant Reserve annual report and accounts, various years (via www.royal.uk/media-packs) 1.2 The Privy Purse The Privy Purse represents the private income to which the Queen is entitled as Sovereign. It is currently used to meet both official and private expenditure. Income from the Duchy of Lancaster funds the Privy Purse. This income is subject to income tax, but the Duchy itself does not pay tax. The Duchy is a landed estate of approximately 18,500 hectares in England and Wales held in trust for the Sovereign since 1399. The Sovereign is not entitled to the Duchy’s capital but the net revenues of the Duchy are the property of the Sovereign in right of her Duchy of Lancaster. Accounts for the Duchy of Lancaster are published and laid before Parliament annually. The Chancellor of the Duchy of Lancaster, who is the equivalent of the chairman of trustees, has in recent years been a Government minister, 7 Commons Library Briefing, 25 July 2017 although this is not a requirement. The current Chancellor of the Duchy of Lancaster is the Rt. Hon Patrick McLoughlin MP.
Load more

Recommended publications
  • Sovereign Grant Annual Report 2014/15
    102066_Finances Cover:Cover 5/20/15 4:08 PM Page 1 The Sovereign Grant and Sovereign Grant Reserve Annual Report and Accounts 2014-15 The Sovereign Grant and Sovereign Grant Reserve Annual Report and Accounts 2014-15 SOVEREIGN GRANT ACT 2011 The Sovereign Grant and Sovereign Grant Reserve Annual Report and Accounts 2014-15 Presented to Parliament pursuant to Section 2 and Section 4 of the Sovereign Grant Act 2011 Ordered by the House of Commons to be printed 23 June 2015 HC 130 © Crown copyright 2015 This publication is licensed under the terms of the Open Government Licence v3.0 except where otherwise stated. To view this licence, visit nationalarchives.gov.uk/doc/open- government-licence/version/3 or write to the Information Policy Team, The National Archives, Kew, London TW9 4DU, or email: [email protected]. Where we have identified any third party copyright information you will need to obtain permission from the copyright holders concerned. This publication is available at www.gov.uk/government/publications Print ISBN 9781474119115 Web ISBN 9781474119122 Printed in the UK on behalf of the Controller of Her Majesty’s Stationery Office. ID 14051521 07/15 Printed on paper containing 75% recycled fibre content minimum. Produced by Impress Print Services Limited. FRONT COVER: Queen Elizabeth II and The Duke of Edinburgh during an International Ceremony with Heads of State at Sword Beach in Normandy to mark the 70th Anniversary of the D-Day landings. Photograph provided courtesy of Chris Jackson/Press Association Images. CONTENTS
    [Show full text]
  • Brandfinance®Journal
    © Crown Copyright / Flickr Creative Commons BrandFinance® Journal www.brandfinance.com/journal SPECIAL JUBILEE ISSue • June 2012 Brand Understanding ® the value ofFinance the British Monarchy as a brand The Economic Benefit of the Monarchy The Value of Coats of Arms and Royal In association with Warrants The Monarchy’s Impact on Trade and Tourism 1 © Brand Finance plc 2012 Contents Introduction ......................................... 003 Summary Valuation Opinion .............. 005 The Importance of the Monarchy in the UK ............................. 007 Some Basic Concepts .......................... 009 The House of Windsor Family Tree ...... 011 The Order of Succession to the Throne ....................................... 013 Who’s Who ............................................ 015 Public Opinion of the Royal Family ..... 021 The Royal Finances .............................. 025 Understanding the Value of the Monarchy as a Brand-Detailed Analysis .................. 029 The Contribution of the Monarchy to UK Trade .......................... 033 The Contribution of the Monarchy to UK Tourism ..................... 035 The Economic Benefit of The Royal Wedding .............................. 035 Coats of Arms ....................................... 039 Royal Warrants ..................................... 041 Royalties ............................................... 045 About Brand Finance ........................... 047 Contact Details ..................................... 058 © Brand Finance plc 2012 © Brand Finance plc 2012 2 We identified
    [Show full text]
  • Restoration and Renewal of the Palace of Westminster
    BRIEFING PAPER Number 07898, 3 December 2018 Restoration and Renewal By Richard Kelly of the Palace of Westminster Contents: 1. Overview of the Restoration and Renewal Programme 2. Pre-feasibility study (2012) 3. Independent Options Appraisal (2014) 4. Joint Committee review of the Options (2016) 5. Debate on the Joint Committee’s report 6. Draft Parliamentary Buildings (Restoration and Renewal) Bill 7. Earlier debate on and other proposals for R&R 8. Reviewing the Joint Committee’s proposals 9. Opportunities arising from R&R 10. Restorations of other public buildings www.parliament.uk/commons-library | intranet.parliament.uk/commons-library | [email protected] | @commonslibrary 2 Restoration and Renewal of the Palace of Westminster Contents Summary 4 Legislating for Restoration and Renewal 4 Recommendations on Restoration and Renewal to the two Houses 4 Debating R&R 5 Further inquiries 5 How were the options developed? 5 1. Overview of the Restoration and Renewal Programme 7 1.1 Refurbishment to date 8 1.2 Timeline of the R&R Programme 8 1.3 The scale of the problem 11 Costs of delay 13 1.4 Decisions already taken 13 R&R Programme Spending 16 1.5 Next steps for the Restoration and Renewal Programme 17 Joint Committee’s timeline, September 2016 17 Timeline, January 2018 18 Legislation timetable 19 2. Pre-feasibility study (2012) 20 3. Independent Options Appraisal (2014) 22 3.1 Outcome of the appraisal 22 4. Joint Committee review of the Options (2016) 26 4.1 A full decant 26 4.2 Temporary accommodation 27 4.3 Governance arrangements 28 4.4 Decisions following the Joint Committee report 29 5.
    [Show full text]
  • Copyrighted Material
    33_056819 bindex.qxp 11/3/06 11:01 AM Page 363 Index fighting the Vikings, 52–54 • A • as law-giver, 57–58 Aberfan tragedy, 304–305 literary interests, 56–57 Act of Union (1707), 2, 251 reforms of, 54–55 Adelaide of Saxe-Meiningen, queen of reign of, 50, 51–52 William IV, 268, 361 Alfred, son of King Aethelred, king of Áed, king of Scotland, 159 England, 73, 74 Áed Findliath, ruler in Ireland, 159 Ambrosius Aurelianus (Roman leader), 40 Aedán mac Gabráin, overking of Dalriada, 153 Andrew, Prince, Duke of York (son of Aelfflaed, queen of Edward, king Elizabeth II) of Wessex, 59 birth of, 301 Aelfgifu of Northampton, queen of Cnut, 68 as naval officer, 33 Aethelbald, king of Mercia, 45 response to death of Princess Diana, 313 Aethelbert, king of Wessex, 49 separation from Sarah, Duchess of York, Aethelflaed, daughter of Alfred, king of 309 Wessex, 46 Anglo-Saxon Chronicle, 57, 58, 63 Aethelfrith, Saxon king, 43 Anglo-Saxons Aethelred, king of England, 51, 65–66 appointing an heir, 16 Aethelred, king of Mercia, 45, 46, 55 invasion of Britain, 39–41 Aethelred, king of Wessex, 50 kingdoms of, 37, 42 Aethelstan, king of Wessex, 51, 61–62 kings of, 41–42 Aethelwold, son of Aethelred, king of overview, 12 Wessex, 60 Anna, queen of Scotland, 204 Aethelwulf, king of Wessex, 49 Anne, Princess Royal, daughter of Africa, as part of British empire, 14 Elizabeth II, 301, 309 Agincourt, battle of, 136–138 Anne, queen of England Albert, Prince, son of George V, later lack of heir, 17 George VI, 283, 291 marriage to George of Denmark, 360–361 Albert of
    [Show full text]
  • SOVEREIGN GRANT and SOVEREIGN GRANT RESERVE Year to 31 March 2019
    THE SOVEREIGN GRANT AND SOVEREIGN GRANT RESERVE Year to 31 March 2019 FINANCIAL SUMMARY Year to 31 March 2019 2018 £m £m Income 17.8 17.3 Expenditure Payroll costs 23.2 21.4 Other staff costs 3.5 2.2 Property maintenance 37.8 22.6 Travel 4.6 4.7 Utilities 2.9 2.7 Housekeeping and hospitality 2.3 2.3 Information Technology 3.8 3.0 Other 6.7 5.8 Net Expenditure 67.0 47.4 The Sovereign Grant Act 2011 came into effect from 1 April 2012 and consolidated the funding provided to support the official duties of The Queen and maintain the Occupied Royal Palaces1. Until 31 March 2012, funding had been provided under the Civil List and the Grants-in-aid for the Maintenance of the Occupied Royal Palaces, Royal Travel and Communications and Information. The Queen’s official expenditure is met from public funds in exchange for the surrender by The Queen of the revenue from the Crown Estate. The Core Sovereign Grant is calculated based on 15% of the income account net surplus of the Crown Estate for the financial year two years previous. The Crown Estate surplus for the financial year 2016-17 amounted to £328.8 million, thereby producing a Core Sovereign Grant of £49.3 million for 2018-19. The Royal Trustees2 agreed that from 2017-18, the Sovereign Grant will be calculated based on 25% of the income account net surplus of the Crown Estate for the financial year two years previous, with the additional 10% to be used to fund the Reservicing of Buckingham Palace over a period of ten years.
    [Show full text]
  • The Sovereign Grant and Sovereign Grant Reserve Annual Report and Accounts 2017-18
    SOVEREIGN GRANT ACT 2011 The Sovereign Grant and Sovereign Grant Reserve Annual Report and Accounts 2017-18 Presented to Parliament pursuant to Section 2 and Section 4 of the Sovereign Grant Act 2011 Ordered by the House of Commons to be printed 27 June 2018 HC 1153 © Crown copyright 2018 This publication is licensed under the terms of the Open Government Licence v3.0 except where otherwise stated. To view this licence, visit nationalarchives.gov.uk/doc/open- government-licence/version/3 Where we have identified any third party copyright information you will need to obtain permission from the copyright holders concerned. This publication is available at www.gov.uk/government/publications Any enquiries regarding this publication should be sent to us using the contact details available at www.royal.uk ISBN 978-1-5286-0459-8 CCS 0518725758 06/18 Printed on paper containing 75% recycled fibre content minimum. Printed in the UK on behalf of the Controller of Her Majesty’s Stationery Office. Produced by Impress Print Services Limited. FRONT COVER: Queen Elizabeth II and The Duke of Edinburgh visit Stirling Castle on 5th July 2017. Photograph provided courtesy of Jane Barlow/Press Association. CONTENTS Page The Sovereign Grant 2 The Official Duties of The Queen 3 Performance Report 9 Accountability Report: Governance Statement 27 Remuneration and Staff Report 40 Statement of the Keeper of the Privy Purse’s Financial Responsibilities 44 The Certificate and Report of the Comptroller and Auditor General to the Houses of 46 Parliament and the Royal
    [Show full text]
  • Sovereign Grant Act 2011: Report of the Royal Trustees on the Sovereign Grant 2021-22
    Sovereign Grant Act 2011: Report of the Royal Trustees on the Sovereign Grant 2021-22 March 2021 Sovereign Grant Act 2011: report of the Royal Trustees on the Sovereign Grant 2021-22 Presented to Parliament pursuant to Section 5(4) of the Sovereign Grant Act 2011 March 2021 © Crown copyright 2021 This publication is licensed under the terms of the Open Government Licence v3.0 except where otherwise stated. To view this licence, visit nationalarchives.gov.uk/doc/open- government-licence/version/3. Where we have identified any third party copyright information you will need to obtain permission from the copyright holders concerned. This publication is available at: www.gov.uk/official-documents. Any enquiries regarding this publication should be sent to us at [email protected] ISBN 978-1-911680-45-1 PU: 3084 Contents Chapter 1 Report of the Royal Trustees on the Sovereign Grant 2 2021-22 Annex A Statement of how the Sovereign Grant for 2021-22 has 5 been calculated Annex B Royal Trustees’ consideration of Step 4 7 1 Chapter 1 Report of the Royal Trustees on the Sovereign Grant 2021-22 Legislative background Calculation and payment of the Sovereign Grant 1.1 Under section 1(1) of the Sovereign Grant Act 2011 (“the 2011 act”) the Treasury is to pay to Her Majesty a Sovereign Grant (“the grant”) for each financial year.1 The purpose of the grant is to provide resources for use for that year by the Royal Household in support of Her Majesty’s official duties.2 1.2 For each financial year, subsequent to the financial year 2012-13, the amount of the grant is the amount determined by the Royal Trustees3 for that year in accordance with section 6 of the 2011 act.4 Section 6 of the 2011 act as amended by the Sovereign Grant Act 2011 (Change of Percentage) Order 2017,5 provides that the amount of the grant for a financial year (“the relevant financial year”) is to be determined by the Royal Trustees as follows.
    [Show full text]
  • Ebook Download What a Thing to Say to the Queen
    WHAT A THING TO SAY TO THE QUEEN: A COLLECTION OF ROYAL ANECDOTES FROM THE HOUSE OF WINDSOR PDF, EPUB, EBOOK Thomas Blaikie | 192 pages | 03 Nov 2015 | Aurum Press Ltd | 9781781314418 | English | London, United Kingdom What a Thing to Say to the Queen: A Collection of Royal Anecdotes from the House of Windsor PDF Book Before then, it was maintained using the monarch's official income paid by the Civil List. Australian Women's Weekly. Humorous story about a fictional Prince and Princess of Wales who travel across the United States: riding freight trains, washing dishes, stealing art, fighting forest fires, and becoming enmeshed in a presidential campaign. As Windsor is right next to Heathrow, planes can be heard roaring past at all hours. Christmas Lifestyle 15 Christmas gifts for male teachers that they'll actually be excited to receive Now To Love Yesterday pm. Stories and anecdotes about British royals and their connection to the tradition of afternoon tea. There is a computerised inventory of the Royal Collection which identifies assets held by the Queen as Sovereign and as a private individual. Hypothetical questions have been asked in Parliament about what should happen to the collection if the UK ever becomes a republic. And no one but these royal biographers, royal reporters, and other insiders are quite so invested in telling the story of who the royal family is as a real family — brothers, in-laws, and a year-old grandmother who has owned 30 corgis in her lifetime. President George Bush Sr had been asked to pull out a small platform for the Queen to stand on.
    [Show full text]
  • The Sovereign Grant and Sovereign Grant Reserve Annual Report and Accounts 2012-13 HC 212 Session 2013-2014
    The Sovereign Grant and Sovereign Grant Reserve Annual Report and Accounts 2012-13 SOVEREIGN GRANT ACT 2011 The Sovereign Grant and Sovereign Grant Reserve Annual Report and Accounts 2012-13 Presented to Parliament ursuant to Section 2 and Section 4 o/ the Sovereign Grant ct 2011 Ordered by the House of Commons to be printed 27 une 2013 HC 212 London: The Stationery Office £21.25 © Crown copyright 2013 The text in this document (excluding the Royal Arms and other departmental or agency logos) may be reproduced free of charge in any format or medium, providing it is reproduced accurately and not used in a misleading context, under the terms of the Open Government Licence. To view this licence, visit http://www.nationalarchives.gov.uk/doc/open- government-licence/ or e-mail: [email protected]. Where we have identified any third party copyright information you will need to obtain permission from the copyright holders concerned. ISBN: 9780102984248 Printed in the UK by The Stationery Office Limited on behalf of the Controller of Her Majesty's Stationery Office ID 2563494 06/13 Printed on paper containing 75% recycled fibre content minimum. FRONT COVER: HM The Queen and The Duke of Edinburgh arrive in Perth, Scotland. Photograph provided courtesy of Andrew Milligan/PA Wire CONTENTS Page The Sovereign Grant 2 The Official Duties of The Queen 3 Managing The Royal Household 7 Operating and Financial Review 16 Future Developments 23 Governance Statement 26 Statement of the Keeper of the Privy Purse's Responsibilities 34 The Certificate
    [Show full text]
  • 1 the Public Life of a Twentieth Century Princess Princess Mary Princess Royal and Countess of Harewood Wendy Marion Tebble
    View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by SAS-SPACE 1 The Public Life of a Twentieth Century Princess Princess Mary Princess Royal and Countess of Harewood Wendy Marion Tebble, Institute of Historical Research Thesis submitted for Degree of Master of Philosophy, 2018 2 Table of Contents Abstract 3 Acknowledgements 5 Abbreviations 7 Acronyms 8 Chapters 9 Conclusion 136 Bibliography 155 3 Abstract The histiography on Princess Mary is conspicuous by its absence. No official account of her long public life, from 1914 to 1965, has been written and published since 1922, when the princess was aged twenty-five, and about to be married. The only daughter of King George V, she was one of the chief protagonists in his plans to include his children in his efforts to engage the monarchy, and the royal family, more deeply and closely with the people of the United Kingdom. This was a time when women were striving to enter public life more fully, a role hitherto denied to them. The king’s decision was largely prompted by the sacrifices of so many during the First World War; the fall of Czar Nicholas of Russia; the growth of socialism; and the dangers these events may present to the longevity of the monarchy in a disaffected kingdom. Princess Mary’s public life helps to answer the question of what role royal women, then and in the future, are able to play in support of the monarchy. It was a time when for the most part careers of any kind were not open to women, royal or otherwise, and the majority had yet to gain the right to vote.
    [Show full text]
  • Queen's Or Prince's Consent
    QUEEN’S OR PRINCE’S CONSENT This pamphlet is intended for members of the Office of the Parliamentary Counsel. Unless otherwise stated: • references to Erskine May are to the 24th edition (2011), • references to the Companion to the Standing Orders are to the Companion to the Standing Orders and Guide to Proceedings of the House of Lords (25th edition, 2017), • references to the Cabinet Office Guide to Making Legislation are to the version of July 2017. Office of the Parliamentary Counsel September 2018 CONTENTS CHAPTER 1 INTRODUCTION CHAPTER 2 QUEEN’S CONSENT Introduction. 2 The prerogative. 2 Hereditary revenues, the Duchies and personal property and interests . 4 Exceptions and examples . 6 CHAPTER 3 PRINCE’S CONSENT Introduction. 7 The Duchy of Cornwall . 7 The Prince and Steward of Scotland . 8 Prince’s consent in other circumstances . 8 Exceptions and examples . 8 CHAPTER 4 GENERAL EXCEPTIONS The remoteness/de minimis tests . 10 Original consent sufficient for later provisions . 10 No adverse effect on the Crown. 11 CHAPTER 5 THE SIGNIFICATION OF CONSENT Signification following amendments to a bill. 13 Re-signification for identical bill . 14 The manner of signification . 14 The form of signification . 15 CHAPTER 6 PRACTICAL STEPS Obtaining consent. 17 Informing the Whips . 17 Writing to the House authorities . 17 Private Members’ Bills. 17 Informing the Palace of further developments . 18 Other. 18 CHAPTER 7 MISCELLANEOUS Draft bills . 19 Consent not obtained . 19 Inadvertent failure to signify consent . 19 Consent in the absence of the Queen. 20 Consent before introduction of a bill . 20 Queen’s speech . 20 Royal Assent .
    [Show full text]
  • The Ultimate Insider Trader Is the Queen
    Click here for Full Issue of EIR Volume 23, Number 22, May 24, 1996 to be "philo-Semitic," but in reality he was "philo-banker." 1.,1 Edward had a geopolitical vision in the Venetian tradition, and it was one of brutal simplicity: the encirclement of'Ger­ The ultimateinsider many with a hostile coalition, and the destruction of theWa­ tion-states of Europe. With this ambition driving him, Edward traderis the Queen VII set up the Anglo-Franco-Russian alliance that becatt\.e' known as the Triple Entente. His policies led directly to expIO-l I·, sion of world war in 1914. by Scott Thompson One of Edward VII's leading financialadvisers was HUrl-' garian Jewish banker Baron Hirsch, who purchased an intro­ Her Majesty Queen Elizabeth II is the wealthiest crone in the duction to Edward in 1890 from Crown Prince Rudolf of world, who gives new meaning to the phrase, "stinking rich." Austria. When Baron Hirsch died in 1896, his position as Her total wealth is divided into two parts. One is a Venetian­ leading adviser passed on to his executor, another Jewish stylefondo, that is, it is inalienable and must be passed on to banker, Ernest Cassel, whose daughter and heiress, Edwina, her heir, free from inheritance tax. The second part of her would ultimately marry Lord Louis Mountbatten, a chief in­ wealth consists of her private collection of castles, jewelry, fluence on Prince Philip and Prince Charles. and art, and a portfolio of blue chip stocks and bonds and real The Rothschilds and the Sassoons, also Jewish bankers, estate investments around the world.
    [Show full text]