I agree with Bisjac's point. People shouldn't hang onto tradition as tightly as they do. The Royal family of England holds no power at all.
It wouldn't happen due to the fact that the Royal Family is comfortable in it's current political position with the country, but actually, they do have a lot of power.
The Queen, and whoever reigns on the throne has full control of the British Army and can declare war and disband the entire armed services without going to parlaiment.
All Laws that are passed by the Houses of Parlaiment have to be accepted by the Queen.
She can deny any Law she wishes, but she trusts the government with it and has never denied a law of any government of Britian.
The Queen owns all the land of Britain and can reclaim it as she sees. The Government and County Councils look after and judge what occurs on the land for her benefit, and it's the fact that the Queen owns the land that County Councils can order a mandatory removal of a person from their land, and can force them to sell the land to the Council and Country.
Of course the country would revolt as, if the Monarchy were to claim full power of the Kingdom, it would be seen as a tyranny, but the Royal Family would have a large proportion of the British Army still loyal to them.
All members of the Armed Forces pledge allegiance to the Queen. Not to the country.
They're the Queens army, not Britains.
Did you guys never watch
Johnny English?