Sophie Wessex’s New Dilemma: Funding Squeeze After Queen Elizabeth Tightens Her Purse Strings

While there certainly are a lot of pros to being a member of the British Royal Family, there are just as many cons. As a matter of fact, it looks like some members of the firm, including Sophie, Countess of Wessex, might soon be hit by a funding squeeze as Queen Elizabeth is dealing with a huge blow to her income. Here’s what you need to know.

Sophie Wessex’s New Dilemma: Funding Squeeze After Queen Elizabeth Tightens Her Purse Strings

According to Express.co.uk, the Queen’s Duchy of Lancaster Estate has suffered a major blow because of the coronavirus. As many royal fans know, people from all over the world were urged to shelter-in-place during the coronavirus lockdown back in mid-March to help curb the spread of the novel virus. As a result, many businesses have either folded or are struggling to make ends meet, and it looks like the situation is no different for the Queen, either.

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Royal correspondent Richard Palmer recently revealed there are going to be a lot of people impacted by the spending freeze, and that no one knows how long it’s going to last. Even though the Duchy of Lancaster rose by seven percent last year, it was impacted pretty hard by the coronavirus.

Palmer wrote: “Prince Edward and Sophie plus a number of other royals may have to reduce their spending after millions of pounds was wiped off the value of the Duchy of Lancaster in just the first week of coronavirus outbreak, with its tenancies due to take a more significant hit in the months to come.”

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If that weren’t enough, Palmer believes that things will get worse before they get better. He added, “We also recognize that, while it is too early to predict the eventual outcome, many of our tenants’ businesses will be adversely affected, particularly those in the leisure and retail sectors. Next year is therefore likely to present significant challenges.”

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