Rediff.com  » Business » Queen is to cut spending

Queen is to cut spending

Source: PTI
June 23, 2010 12:47 IST
Get Rediff News in your Inbox:

Queen ElizabethThe British Queen is to cut her spending by nearly 200,000 pounds this year, and has imposed a pay freeze on her senior staff in the wake of the economic crisis in the UK, a media report said.

According to the Daily Express, a recruitment freeze is also under consideration at the Buckingham Palace where the total staff numbers have risen by 15 to 300 in a decade. Staff leaving are unlikely to be replaced.

"They are going to look at every post," a senior Royal courtier was quoted as saying. In fact, the Queen has been under pressure to rein in her costs after a 4.9 per cent rise in her spending in the past year from 14.4 million to 15.1 million pounds, partly caused by a 400,000 pounds contribution to help fill a one million pounds black hole in pension provision for her aides.

Her finance chief, Sir Alan Reid, Keeper of the Privy Purse, earns 180,000 pounds a year and her private secretary, Christopher Geidt, is paid 146,000 pounds.

The details came in a report by the Royal Trustees into a decade of Civil List spending. Both earn more than PM David Cameron -- salary 142,500 pounds.

In 2011, palace spending will fall back to 14.9 million pounds, a 1.3 per cent drop, after the UK government announced that the Civil List will be frozen at 7.9 pounds million for another year.

Image: Queen Elizabeth

Get Rediff News in your Inbox:
Source: PTI© Copyright 2021 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.
SHARE THIS STORY 

Moneywiz Live!