Royals clear 350 year old debt

Britain’s Royal Family will finally pay off a debt dating back more than 350 years.

The future King Charles II failed to pay the UKP453.3s he owed 357 years ago and businessman in Worcester, England, have been campaigning for the past 15 years to get the money.

Before the Battle of Worcester in 1651 the Worcester Clothiers made the monarch thousands of new uniforms to fight Cromwell’s army.

But he was driven out of the country and never actually paid for them and according to the Institute for the Measurement of Worth website, the sum of UKP453 and three shillings in 1651 would have been worth approximately UKP47,500 in 2007, if interest was taken into account.

Now Prince Charles is expected to finally pay off his ancestral debt, minus the interest, when he visits the city with the Duchess of Cornwall today (10.06.08).

A spokeswoman for Clarence House said Charles would personally repay a sum of UKP453.15 to the current High Master of the Clothiers Andrew Grant at a ceremony.

Grant said: “We are very grateful to The Prince of Wales for repaying the debt to the Worcester Clothiers Company during His Royal Highness’s visit to The Commandery.

“We very much look forward to welcoming The Prince and The Duchess to this historic building which is steeped in history and which will make this a most happy, memorable and unique event.”

Charles II eventually reclaimed the throne in the 1660s.