- The Queen reportedly lobbied the British government in the 1970s to change a draft law that could enable the exposure of her vast private wealth, according to a new investigation by the Guardian.
- The government changed the law after the Queen's intervention, allowing the monarch to hide her wealth in a "state-backed shell corporation."
- The Queen's private wealth is estimated to comprise hundreds of millions of pounds.
According to a new investigation by the Guardian, the Queen lobbied the British government in the 1970s to change a draft law that could have revealed her "embarrassing" private wealth to the public. Government memos in the U.K.'s National Archives reportedly reveal the Queen's private lawyer successfully pressured lawmakers to change proposed transparency legislation that could have exposed her shareholdings. The full extent of the Queen's private wealth has never been revealed to the public, but according to the Guardian, it's estimated to comprise hundreds of millions of pounds.
The newspaper reports that after the Queen intervened, the government modified the draft law to include a new clause, excluding companies employed by "heads of state"—including the monarch—from new transparency legislations. That clause reportedly enabled the Queen to hide her investments and shareholdings in a "state-backed shell corporation."
The Guardian discovered the Queen's intervention while investigating her use of a parliamentary procedure named "Queen's consent," which "requires ministers to alert the Queen when legislation might affect either the royal prerogative or the private interests of the crown." The newspaper claims that the Queen and her lawyers have used the procedure to "secretly lobby" for changes to proposed laws that could affect her.
In a statement to the Guardian, Buckingham Palace said, "Queen’s consent is a parliamentary process, with the role of sovereign purely formal. Consent is always granted by the monarch where requested by government."
“Whether Queen’s consent is required is decided by parliament, independently from the royal household, in matters that would affect crown interests, including personal property and personal interests of the monarch," the statement continued. "If consent is required, draft legislation is, by convention, put to the sovereign to grant solely on advice of ministers and as a matter of public record."
Related Stories
Stay In The Know
Marie Claire email subscribers get intel on fashion and beauty trends, hot-off-the-press celebrity news, and more. Sign up here.
Emily Dixon is a British journalist who’s contributed to CNN, Teen Vogue, Time, Glamour, The Guardian, Wonderland, The Big Roundtable, Bust, and more, on everything from mental health to fashion to political activism to feminist zine collectives. She’s also a committed Beyoncé, Kacey Musgraves, and Tracee Ellis Ross fan, an enthusiastic but terrible ballet dancer, and a proud Geordie lass.
-
Jennifer Lopez Clearly Prefers This Comeback Sneaker Trend
She's wearing it as often as her favorite Birkin bags.
By Julia Gray Published
-
Olivia Rodrigo Is Bringing Visible Bra Straps Back
The pop-punk princess wore custom Victoria's Secret at Coachella.
By Julia Gray Published
-
Meghan Markle’s New Netflix Cookery Show Begins Filming Today—But Not Where You’d Expect It to Be Shot
The Sussexes are having a busy week this week, shooting both of their his-and-her Netflix shows and rolling out the first product offering for Meghan’s new lifestyle brand American Riviera Orchard.
By Rachel Burchfield Published
-
British Royal Lady Gabriella Windsor's Husband Has Died at 45
Lady Gabriella is King Charles' second cousin.
By Iris Goldsztajn Published
-
George, Charlotte and Louis Will Be Laden With Gifts as Prince William Returns From New York
He was handed so many souvenirs for the little ones.
By Iris Goldsztajn Published
-
Prince William Makes Sure to "Treat George and Charlotte as Equals," Body Language Expert Says
I should hope so!
By Iris Goldsztajn Published
-
Prince William Isn't "A Workaholic Like His Father," Royal Expert Claims
He's got more of a work-life balance.
By Iris Goldsztajn Published
-
Princess Kate's New "Signature" Gesture? The Stealthy "Bum Pat" to Prince William
Love this for her.
By Iris Goldsztajn Published
-
Prince Harry Says His "Spirit Is Renewed" as He Attends the Warrior Games for Wounded Service Members in San Diego
The Games inspired his Invictus concept.
By Iris Goldsztajn Published
-
Prince William Not Expected to Invite Prince Harry to His Coronation, Friend Claims
That doesn't sound good.
By Iris Goldsztajn Published
-
We Finally Know Where the Earthshot Prize 2023 Will Take Place
Let's go!
By Iris Goldsztajn Published