With Elizabeth celebrating the 40th anniversary of her rule, this was supposed to be a happy year. Instead, the queen clinched her position as head of the world’s reigning dysfunctional family, looking on helplessly as the princess royal divorced, the Duchess of York cavorted and the Waleses lurched toward separation. At a lunch given in her honor by the mayor of London last week, Elizabeth called 1992 an “annus horribilis” and-with classic British understatement-acknowledged it was “not a year on which I shall look back with undiluted pleasure.” The speech was unusually personal and openly pained, with its plea to critics to scrutinize her family with “a touch of gentleness, good humor and understanding.”
They may be more willing to show a little compassion now that Elizabeth has agreed to put her money where the queen’s English is. Unlike most hapless citizens, she has a choice; the monarch isn’t legally obligated to pay levies. Though the exact amount of her wealth remains as closely guarded as the crown jewels, palace observers believe the queens private assets are worth at least $2 billion. In addition to income taxes at the current 40 percent top rate, she is also likely to lay out “council” or property taxes on her Sandringham and Balmoral residences. Still to be negotiated are possible inheritance taxes, capital-gains or even back taxes. The queen herself volunteered to pare down the Civil List of relatives on the public payroll. Under the new proposal, taxpayers will support only the queen ($11.8 million), Prince Philip ($540,000) and the Queen Mother ($960,000). Elizabeth will take over the cost of five previously subsidized royals.
Whether the queen’s action proves to be a turning point for the monarchy or simply a preemptive strike is an open question. The Financial Times saw it as a “move towards a smaller, European-style monarchy.” Constitutional expert Lord St. John of Fawsley agreed that there may be a “simpler royal lifestyle in the works.” But in recognition of the symbiotic relation that governs everything from tourist income to national identity, he added: “I don’t think it would suit us to have a bicycling monarchy on the Scandinavian model.” Nevertheless, it’s clear the queen would have found herself paying out a good deal more if she had waited for a disgruntled Parliament to start imposing levies on the crown. If it’s any comfort, Elizabeth, like other taxpayers throughout the realm, will be sending her check to none other than Her Majesty’s government.
