Downsizing Royalty

It took the death of Princess Diana to make it happen, but Britain's ancient monarchy is about to be downsized and modernized. Public anger at the way the royal family was seen to have treated Diana shocked the palace and the government into action.

The Royal family hired a market research firm to do focus groups. They found, to no one's surprise, that people think the royal family is out of touch and ill advised. The general feeling is that the royals don't get it, and the British public doesn't get its money's worth from the royals.

So Britain's Labor government and the Queen have proposed a list of sweeping reforms.

CBS News Correspondent Tom Fenton reports from London on the proposed reforms. Click above for the full report.

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