The Palace also wanted to put the record straight on reports in national and London newspapers that staff bars were subsidised.
‘There are no plans to close the staff bars and the bars are not subsidised either,’ said a Palace spokesperson. ‘All the costings made in the reports are also wrong,’ he added.
Newspaper reports put prices of a pint and glass of whiskey at £1 and 30p respectively, but the Palace maintained that drinks prices were ‘similar to the national average’.
Sir Michael Peat, the first ever accountant to fill the post of Keeper of the Privy Purse, known for his ‘more for less approach’ has ensured a tight rein over the royal finances since he took up the job in 1993; much to the dislike of the old guard.
Sir Michael has made savings of 55% in Royal household over the last decade by eliminating a number of surplus luxuries, such as the royal yacht, Britannia.According to the Palace spokesman staff bars work on a similar basis to the nation’s much loved working mens’ clubs that offer the usual array of drinks at below average prices.
‘All drinks are bought from NAAFI at wholesale prices. Any profits made are put back into the welfare fund,’ said the Palace.
The spokesperson did however explain that a consultation process was underway to revamp the traditional in-house pub into a more fashionable coffee shop-type area. No decision is expected to be made before the end of the year.
If businesses do not take cyber security seriously in their business planning regulators may do it for them, the ICAEW has warned
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast
Company bosses are considering relocating operations or headquarters away from the UK following the country's decision to leave the European Union