Media Says Elizabeth II Blocked Her Capital Disclosure: Palace Response
'15.02.2021'
Source: with the BBC
Representatives of Elizabeth II called the reports of journalists “simply untrue” that the queen allegedly tried to prevent the adoption of a bill that would force her to disclose the size of her fortune, writes with the BBC.
This is about the events of 1973, when the Conservative government of Edward Heath drafted a law prohibiting investors from secretly purchasing shares. Its adoption could force the Queen to disclose data on her private investments, including the shares she owns in private companies and their value.
Sunday newspaper Guardian published an investigation based on documents from the UK National Archives. Journalists claim that Elizabeth II got acquainted with the bill as part of the “royal assent” procedure and instructed her lawyers to contact the government to present their objections.
As a result, the law provided for a rule according to which the cabinet can make exceptions for certain investors and keep their investments secret. Thus, the queen, as head of state, had the opportunity not to disclose the size of her fortune.
According to tradition in Britain, royal consent is necessary if a particular law affects the interests of the monarchy. The Guardian concludes that the right to preliminary acquaintance with bills gives the monarch a unique opportunity to influence legislation in his own interests.
However, Buckingham Palace said that the head of state always gives the green light to bills submitted by the government.
“Royal assent is a parliamentary procedure in which the role of the sovereign is purely formal,” said in an official statement from representatives of Elizabeth II. - The monarch always gives it if the cabinet asks for it. The statement that the sovereign blocked the adoption of the law is simply not true. "
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“The need to request royal consent is determined only by parliament - regardless of the entourage of the monarch. This is done in cases affecting the interests of the Crown, including personal property and the interests of the monarch. The consent is given exclusively on the advice of the ministers, and all related materials are published, ”the representative added.
The newspaper found “three pages” of government memoranda in the National Archives while studying how the Royal Assent Institute works.
Royal assent differs from royal assent - the formal procedure for the monarch to sign all laws passed by parliament for their final entry into force. The last time the British monarch [Queen Anne] refused to grant the law passed was royal assent in 1707.
Queen's wealth
In May 2020, The Sunday Times appreciated personal fortune of Elizabeth II in 350 million pounds, thus she took 372 place in the list of the richest people in the UK. According to the newspaper, compared to 2019, the size of the royal wealth has decreased by 20 million pounds, which is explained by the market drop in prices for its investments.
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At the same time, in 2017 Forbes magazine писал citing research by Brand Finance that the total value of the British royal family is $ 88 billion. True, in this case, not only the personal state of the monarchs was assessed, but also their overall contribution to the economy, that is, the assets belonging to the British monarchy and its value as a trademark.
“Their real assets, including Buckingham Palace, the Royal Collection of Art, the famous Royal Regalia and the Duchy of Lancaster and Cornwall, account for $ 33 billion,” the publication said. - Most of the value of the royal family is its trademark. The family's contribution to tourism, business and even fashion ... is estimated at $ 55 billion. ”
“For the UK, they are essentially working like a giant PR company,” Brand Finance head David Haye told reporters.
