Is the English monarchy under a threat or losing its meaning

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In the current world,monarchies are increasing replaced for republic and they are being regarded as past Kingdoms.In the past Kings fought in wars and were part of economic building.These days,they just sit down and wave at people.Just like the old world,people paid high to maintain a king and it was regarded as a sign of respect.If England spends 15 percent of the budget to maintain the monarchy,then this might be scrapped off in the near future because they nolonger need it any more or just keep it for ceremonial purpose.