Even the Queen has been hit by austerity measures in these difficult times the UK is facing. According to the latest figures released, the Queen’s income is to be ‘frozen’ until at least the year 2015. Although the lowest amount was seen in the fiscal year 2010 -2011, the Queen will be effectively paid just half of what she had been netting in the years from 1991 through 2002 where the amount totalled £77.3 million.
Every year since the height of the debt crunch in 2008 – 09, the Queen has taken a pay cut and this has taken a bite out of repairs to the Palace and grounds as well as in the public appearances of the royal family. It is said that the Prince of Wales will continue to finance appearances by the highly popular couple, the Duke and Duchess of Cambridge, as there will be insufficient funds in the royal coffers for these activities.
Even so, there is much disagreement as to whether the new austerity measures will actually yield higher or lower income for the Queen. All figures are based on whether or not revenue from the Queen’s portfolio does well. With real estate such as Regent Street and Windsor Great Park along with owning more than half the shoreline of the country, there is sufficient cause to believe revenues will keep the Palace operating smoothly, and certainly not at a loss.
The new austerity measures which are targeted to commence in April of 2013 are yet to unfold, but there is every reason to believe that the Royal Household will be forced to spend less than they have within the past two decades which will place them farther in the background from the public eye unless the Palace can finance its own publicity appearances and repairs to the estates. A bulk of this money will no longer be taken from the pockets of Britain’s already overwhelmed taxpayers.