Following the successful flotation of the Royal Mail, is it not now time to bring forward more radical thinking to bare on the challenges of the modern world? If Alex Salmond wins the Independence Referendum in September, the UK will face Constitutional change on a scale not seen for many generations.
One of the most globally successful aspects of the UK economy apart from the City is in the field of luxury brands. A recent parliamentary report highlighted the parlous state of the Royal Family, our most prestigious brand.
It is quite clear that the central problem of the monarchy is that it is in the Public Sector and had not been subjected to competition. It is too easy to scoff at radical ideas when they are first mooted. Remember that in the past we have had competing Monarchies and it never did us any harm, did it?
The Queen is Head of State of countries around the world and we may be adding an independent Scotland to that list within 2 years. This has led me to believe that we need to modernise the governance of the Royal Family.
My suggestion, humbly proposed, is that we should seek an IPO for "House of Windsor PLC". Freed from the shackles of the Public Sector, HoW would be able to attract private capital, receive investment from “Sovereign wealth funds” (surely to be welcomed) and to seek partnerships, mergers and acquisitions (a traditional role of monarchy throughout the ages) on a global scale.
Imagine all the Americans who would love to own a part of the Royal Family. Partnerships with the Qataris, Brunei, Saudi or others would be the platform to enable Prince Charles to fulfil his wish to be "Defender of Faiths".
Many countries have "mislaid" their monarchies in the past, and of course, with new countries being created all the time, the opportunity for a Global Monarchy PLC to create new markets cannot be denied.
Consider France, for example. There are many UK expats in France along with many French Royalists. HoW PLC would be able to create a French subsidiary "Monarchie de France". MDF would be ideally placed to create a flat-pack, "Monarchy in a Box" solution for these subjects. The possibilities are truly limited only by our imaginations.
Transition to the Private Sector is of course, not without risks. I propose a regulator OfRoyal, which would hold a golden share for 10 years to prevent any malicious takeovers against the national interest. After a 10-year period, the opportunity to retender for the Monarchy, would open up exciting possibility for new entrants and reflect the changing nature of the UKs population.
So, how might this work?
The Queen would become Life President of course. Prince Charles would become CEO of HoW. The Company would then be run as two operating Divisions, Windsor Estates (WE) and Global Monarchy Services (GMS). This separation of the roles fits happily with the characters of the Young Princes.
Prince Harry would lead WE. WE would develop the estates for their artistic, cultural, heritage and tourism potential. The value of the convention business, society weddings and development of Theme Parks can easily address the current financial challenges. What aspiring parent could deny darling Jemima her “Princess for a Weekend” package for her 16th birthday. Less than her school fees at £15K and on a par with her pony costs, waiting lists would make Eton look “short of a bob or two”.
William would lead GMS. Here the traditional roles of visits, openings, patronage would continue. New sources of revenue would include image rights from the BoE, Royal Mail and of course those paparazzi chaps (it’s about time those villains paid up isn’t it!).
Each member would have a role that gives them a real job, preparing them for the top one, and one also that fits their style and personality. Brilliant is it not?
I hope that I have made my case clear. Now is the time to streamline and re-engineer the Monarchy to create a UK-based global luxury brand with 21st century governance standards.
I also hope that you share my excitement with the potential of HoW PLC. A modern, subject-facing, responsive, strategically-focused and aligned, branded, multi-faith, global monarchy services solution provider is a unique British brand that can stand the test of time.
I do not seek to profit from these suggestions. I have waived my usual fee to avoid any appearance of a conflict of interest. I do believe that this could be the fillip (no pun intended) to the broad-balanced recovery that we all seek.
I must confess, in the interests of transparency, that I would find a CBE most agreeable.