Sir Alan Reid, Keeper of the Privy Purse [the Treasuer to the Queen] said of the announcements made in the royal public finances annual report:
“When the Chancellor of the Exchequer announced his plans for the public expenditure to reduce by 25% in real terms over a four-year period, the Queen was very keen that the Royal Household should play its part in reducing its expenditure accordingly.
“We are pleased to report that we have achieved this reduction a year ahead of the public expenditure target.
“The decrease in expenditure is due mainly to the continuation of a pay freeze, increased income generation, and the deferral of property maintenance expenditure.”
This works out at 52p a year from each and every Briton to fund the Queen and the Royal family.
Photo: Getty.
