BusinessPeople In BusinessCalls for NAO to examine Queen’s finances

Calls for NAO to examine Queen's finances

The royal family should open up its books to demonstrate it provides value for money, according to MPs on a powerful House of Commons committee.

Members of the Public Accounts Committee want the royal accounts, including those of the Queen, to be publicly inspected as part of a bid to increase openness and transparency.

The call comes as the royal family launched into the largest celebrations of the Queen’s rule since the Silver Jubilee in 1977.

The issue could also present the first major challenge for Alan Reid – currently chief operating officer at KPMG – who is shortly to take over as the Queen’s FD, or keeper of the privy purse in July.

Labour MP Geraint Davies launched the attempt to have the Royal books inspected saying: ‘It’s very important the public know what royal expenditure is from the taxpayer and what is private income. Are we sure we’re getting reasonable value for money? In this day and age, when there is increasing scrutiny of the Queen, it is important she is seen to be open and transparent.’

Commenting in the Independent, Davies added that the National Audit Office should be examining the finances of the royal family.

‘In jubilee year, it is important to celebrate the monarchy, but it is also time for modernisation and renewal,’ he added.

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