Brexit will have tremendous affect on UK Queen's finances: Expert

Britain’s exit from the European Union without a Brexit deal with the bloc would have a tremendous effect on the finances of the British royal family and Queen Elizabeth ll will feel it, an expert says.

Masoud Shadjareh, a political analyst from the Islamic Human Rights Commission, told press TV in an interview on Saturday that the current state of affairs surrounding Brexit negotiations shows that the Queen will be one of those worse affected by Britain’s withdrawal from the EU.

“Leaving the EU and the possibility of a no-deal Brexit will be tremendously damaging for both the EU and for Britain,” said Shadjareh, adding, “ (it) is going to be very damaging for everyone in Britain and will have a tremendous impact on the finances of the Queen who is one of the richest individuals in the United Kingdom.”

The expert said increasing disputes on how Britain should conduct the final phases of its negotiations with the EU to finalize its departure from the bloc in March is itself an indication that the country will have many difficulties while out of the EU.

“The fact that there is a disarray within the Conservative Party and even up to this latest stage there is no proper plan, it is an indication that shows that Britain will be much worse off leaving the EU,” said Shadjareh.

He said reports about the potential impacts of the Brexit on the income of the royal family have once again revived the public debate about the gap existing between the ordinary Brits and the royal family who lives a super luxury life.

The annual report of the Duchy of Lancaster, the estate that has provided a private income to the monarch for the last eight centuries, said Saturday that Brexit could pose a “strategic risk” to private finances of Queen.

The 60-page report mentioned Britain’s withdrawal from the European Union under the heading “strategic risk” and said leaving the EU would severely impact the Duchy’s commercial activities which have generated huge income for the royal family over the years that Britain has been a member of the bloc.

“Each year the duchy carries out a five-year business plan as well as preparing rolling forecasts for the year ahead,” said the report, adding, “As part of this process, a review is undertaken of long-term trends to assess options for continued and ongoing viability of duchy operations – this would include any outcomes from Brexit negotiations.”

The Duchy of Lancaster recorded a £20.2 million surplus in fiscal year 2017-18, an increase of 4.9 percent compared to the previous year. The profit is almost three and half times larger than it was in 2000, when it stood at £5.8 million. The net value of the 753-year-old estate increased by 2.9 percent to stand at £533.8 million last year.

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