THE QUEEN could be forced to “reconsider” how the Royal Family “connect with people” in the future – as the monarchy deals with the financial ramifications of the coronavirus crisis.
Mr McClure’s upcoming book ‘The Queen’s True Worth’, planned to be released in September, explores the financial struggles and triumphs the monarchy has faced over the years.
Mr McClure said: “In the short term the coronavirus crisis will directly eat into the money going into the Royal Family.
“This applies particularly to things like visitor admissions to Buckingham Palace but to also Windsor Castle and some of the other palaces.
“Even though some of the royal palaces have been opened up, they have really been hurt by the closure and loss of revenue.”
Royal Family’s financial recovery will be ‘difficult’ as monarch tries to recoup MILLIONS (Image: GETTY)
Royal Family: Mr McClure claimed that over the short and medium-term, the Royal Family would be hurt economically from coronavirus. (Image: GETTY)
Mr McClure also insisted coronavirus would impact the revenue over the medium-term as well.
He said: “In the medium-term, it is going to eat into the profits of the Duchy.
“Not just the Queen’s Duchy, the Duchy of Lancaster, but also Charles’s Duchy, the Duchy of Cornwall.
“Both those organisations have essentially issued profit warnings for next year.
Royal Family: Mr McClure also insisted coronavirus would impact the revenue over the medium-term as well. (Image: GETTY)
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“They have said, this year we just got by, it came in too late, but next year it is going to be challenging.
“The monarchy is certainly going to have less money coming in for the medium term but in the long-term that is more of an open question.”
Mr McClure admitted that while the future is uncertain, there is no evidence to suggest that the monarchy will definitely struggle economically in the long-term.
He added: “In the long-term, we will see whether it is going to make the monarchy reconsider how they connect with people.
Royal Family: Mr McClure admitted that while the future is uncertain, there is not evidence to suggest that the monarchy will definitely struggle economically in the longterm. (Image: GETTY)
Source: EXPRESS CO UK