Queen pay cut due to austerity plan

2011-06-30 21:04

London - British Treasury chief George Osborne says Queen Elizabeth II must be braced for a pay cut under the country's austerity measures.

Osborne said on Thursday that plans to be approved by lawmakers would see public funding to the royal family fall by about 9% by 2015.

Under new rules, the amount the queen receives to pay for salaries, palaces and functions would more closely reflect the state of the public finances.

"Basically, they will do as well as the economy is doing," Osborne said.

He said the current cost of funding the royal family was the equivalent of 51 pence per person each year.

Under Osborne's plan, the queen's household would receive an estimated £34m in the financial year 2013-2014.

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.
Read more on:    queen elizabeth ii  |  economy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Inside News24


Rugby World Cup 2015

All the action from the 2015 RWC, including live coverage of all 48 matches, breaking news, fixtures, results, logs - and much more!


Rugby World Cup 2015

'England can't afford me', jokes Gatland
Boot boys Biggar, Foley set for showdown
Wales seek to end woeful Wallaby run
De Allende's star burns bright
Traffic Alerts

It is always easier to notice the faults in others rather than face our own. Focusing too much on the perfect and ideal scenario...read more

There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.