Augustus
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I don't see how having a king saves us from elections, as we have a king and still have elections.
If you need to elect a ceremonial head of state then you need elections for that too and these would not necessarily align with parliamentary elections. They also cost a lot of money.
We could simply add ceremonial duties to the job description of the Governer General or other government lackey for a fraction of what it costs us to maintain the royals in my view.
Inviting foreign rulers to have a pie and chips on an industrial estate with some nondescript bureaucrat is probably less diplomatically effective though.
(It’s different for countries that are not Britain, but for them they are getting the head of state without paying their general expenses)