Tough Times for Buckingham Palace

The royal family has been warned to tighten its belts.
3:00 | 01/28/14

Coming up in the next {{countdown}} {{countdownlbl}}

Coming up next:

{{nextVideo.title}}

{{nextVideo.description}}

Skip to this video now

Now Playing:

{{currentVideo.title}}

More information on this video
Enhanced full screen
Explore related content
Comments
Related Extras
Related Videos
Video Transcript
Transcript for Tough Times for Buckingham Palace
And someone got a kind of royal reality check today. The queen of England and her family. A scolding, new report warning them to start tightening the belt. They have apparently run through a fortune. Here's ABC's terry Moran. Reporter: Think of the british royal family. And you think of opulence and grandeur and magnificent events. You would hardly belief they are almost broke. Not them. But the royal household. The palaces and buildings. A scathing report in the british parliament found that the queen's public accounts are down to less than a couple of million bucks. Privately, she's still fabulously rich. But her public finances and her palace are a mess. Buckingham palace looks great on the outside. But behind the scenes, this place is in desperate need of repairs. The roof is leaking. Central heating needs replacing. And chunks of stone are falling off the building, endangering members of the royal family. The report demanded that the queen and her family tighten their belts and find ways to make more money, like bringing paying tourists into Buckingham palace. Only open 78 days a year now. In contrast, the white house is open all year round. The Royals make Britain billions every year in tourism. And Elizabeth is a frugal housekeeper. At night, looking around the palace, if there's some lights on, she goes and switches them off. Reporter: She could always hock the jewelry. Terry Moran, ABC news, London.

This transcript has been automatically generated and may not be 100% accurate.

{"id":22272803,"title":"Tough Times for Buckingham Palace ","duration":"3:00","description":"The royal family has been warned to tighten its belts. ","section":"WNT","mediaType":"Default"}