Treasury 'failing to review royal financial management'

Margaret Hodge, the PAC's chairman, criticised the Treasury for failing to be more actively involved in reviewing the household's financial planning and management, including in the plans to maintain historical buildings.

A Treasury spokesman said: "The new arrangements established by the Sovereign Grant Act have made the royal finances more transparent than ever while providing the long term stability necessary for good planning.

The PAC's report has failed to properly account for these changes."

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Queen's household told to do more to cut costs

The Queen's royal household could be doing more to reduce its costs and increase income, and needs to get a firmer grip on a backlog of property repairs, according to MPs on the public accounts committee.