Charles III may be the last king of Britain: Expert

By Al Mayadeen English
Source: Agencies
10 Sep 2022 07:53
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The monarchy, as many Brits contemplate, constitutes a financial burden on Britain.

Prince Charles, seated next to the Queen's crown during the State Opening of Parliament, at the Palace of Westminster in London, May 10, 2022. (AP)

UK King Charles III may be the last king of the United Kingdom and the Commonwealth of Nations, as Britain begins to consider the monarchy a financial burden in the realms of global instability and economic crisis, according to Mikhail Myagkov, the scientific director of the Russian Military Historical Society.

On Thursday, Queen Elizabeth II, the longest-serving monarch in British history and an icon instantly recognizable to billions of people around the world, has died aged 96. Charles III, who is her eldest son, will be crowned king on Saturday, while his wife will become Queen Consort.

"With Europe being in crisis, and Britain having made its life even more difficult with Brexit, the institution of the monarchy may become too burdensome, and Charles III may become the last Windsor on the British throne. If the economic situation deteriorates, including due to spikes in energy prices, the British might wonder: 'Why should we spend hundreds of millions of pounds on a family of aristocrats who play no useful role in running the country?'" Myagkov said.

On the other hand, opposing opinions are also in discussion: Alexander Zakatov, the spokesman for the House of Romanov, asserted that Charles III would defend the monarchy as an institution and cement its authority.

On Thursday, Truss announced a “new energy price guarantee that will give people certainty on energy bills.” Coming to effect on October 1st, capping energy bills at £2,500 ($2,880) for two years might cost the British government up to £150 billion ($172 billion).

Truss did not place a price on the deal since wholesale gas prices remain very variable. According to Deutsche Bank, the energy price offset plus tax cuts she has already pledged might cost £179 billion, or in other words, over half the amount Britain spent on the COVID-19 pandemic.

European energy costs have been rapidly rising in line with a global trend, since 2021. The energy situation deteriorated significantly after the start of the war in Ukraine, as well as the adoption of various sanctions packages against Moscow, causing EU countries to look for alternatives to Russian energy supplies.