Princess Anne forced to make 'very difficult decisions' to keep 700-acre estate running

dailyrecord.co.uk:

Royal experts have revealed that Princess Anne has faced "very difficult decisions" to maintain her 700-acre Gatcombe Park estate amidst financial challenges.

Professor Kate Williams noted that the cost of living crisis has hit the Princess Royal and her family "hard", especially after the cancellation of The Festival of British Eventing, which had been running for 40 years, due to soaring costs post-pandemic.Mark Phillips, Anne's former husband, attributed the decision to escalating costs, particularly insurance.

The 74 year old princess was reportedly "devastated" by the need to end the tradition, reports Gloucestershire Live.Kate explained: "Gatcombe Park is an expensive place to run, it's a huge estate and the inflation, cost of living crisis, has hit them hard."She added: "Anne has had to make some very difficult decisions to keep Gatcombe Park afloat." She also mentioned the challenges of generating sufficient income for the estate during economic downturns.

Channel 5 News Royal correspondent Simon Vigar remarked on the financial acumen required from the outset: "From day one, they've had to make massive financial decisions, quite rightly, they don't get money from the tax payer, they have to make it work."Country Life Magazine's Deputy Editor Kate Green weighed in, acknowledging the gravity of cancelling such an event: "It's a big thing to put on and if you know you're going to struggle to break even or make a profit on it, it's sometimes best to pull the plug.