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Thursday September 29, 2022

Queen's financial secrecy faces scrutiny: report

Queen's financial secrecy faces scrutiny after her son Prince Andrew settled a case out of court

By Web Desk
August 10, 2022
Queens financial secrecy faces scrutiny: report

Queen Elizabeth's financial secrecy is reportedly  facing scrutiny after Prince Andrew's multi-million pound payment to his accuser, according  to Express UK.

The 96-year-old monarch's personal wealth was valued at £370million, but her true wealth, and the wealth of the Royal Family, is unknown,  as per the Sunday Times Rich List.

The Royal Family’s income reportedly comes from the Sovereign Grant, entailed Duchies and private wealth. 

In March, The Duke of York settled a civil assault action with Virginia Giuffre, who accused the royal of sexually assaulting her. Andrew has repeatedly denied any wrongdoing. 

After settling the case with his accuser, the royal was due to pay as much as £12million. The settlement is believed to include a "substantial donation to Ms Giuffre's charity in support of victims' rights".

Daniela Elser quoted reports that Andrew may have only paid Ms Giuffre only “$5.2million to $8.74million of the reported $21million originally reported to settle the case” for news.com.au.

She said: "These developments highlight an exceptionally thorny issue that is only going to get more and more urgent and fundamental for the Queen and in the years to come, Prince Charles when he takes the throne."

"It comes down to this: The Queen and the royal family to this day, receive special treatment from the UK government when it comes to things like taxes and their wills, all the while they are allowed to conceal the true extent of their personal riches," according to  Daniela Elser.