Why on earth is British Royalty allowed to exist when millions of Native Brits live in absolute poverty?

The Monarchy costs each British tax payer 69p a year, the Queen costs very little she is paid from the 'civil list'. The queen also personally owns a wide range of investments and assets that generate a further income of millions of pounds a year. There are homeless and poor people everywhere, what are America doing for their homeless? Blaming royal events is a poor excuse and comes from people that dont understand the economy.