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dan
A good argument for sure. Problem is (and this is a few years old, can't find current figures), the queen has almost 70% of the country giving her a good approval: http://www.theguardian.com/uk/2012/may/24/queen-diamond-jubilee-record-support
So whilst the moral and financial argument for abolishing the monarchy might be sound, most of the country's kinda happy with the status quo. Might be as much to do with the right wing media as anything, or people's attachment to tradition, or any number of reasons. When Charles takes over, the picture may change.