Thank you janetx. Now that I know where the statement about the £1m comes from, it doesn't surprise me that the DM has (deliberately?) twisted the truth, probably to attract the attention of the more sensation-seeking of their readership.
To say that the Queen has £1m left in the bank is completely misleading because it infers that this is her personal bank account, which in fact is not what this story is all about, and I seriously doubt that anybody, apart from her own personal financial advisers, knows just how much money she does have in the bank.
What is reliably reported is that, as of 2010, HM had a stock portfolio worth roughly £100m. Her mother left her part of her own personal fortune, which share was known to be between £7m-£8m, in addition to which the Queen personally owns some very valuable jewellery and works of art, her father's enormous stamp collection, and also her own horses and dogs, so if you add all these assets together, HM certainly isn't lacking financially! In fact she could well afford to pay for the upkeep of her various crumbling residences herself rather than leaching off the state. What's she planning on doing with all this wealth anyway other than pass it on to her children who themselves aren't short of a pound or two, particularly Prince Charles? I have no objection to the monarchy per se, but feel it's time that it followed the example of other European monarchies and worked for its own living instead of floating around opening various events, attending posh banquets, etc. Fortunately I think that, should Prince William ever become king, we will see some radical changes being made, including the off-loading of the more stuffy monarchial traditions.