Queen's Income Shaved to Mere $48M
Things are tough all over
By Mary Papenfuss,  Newser User
Posted Dec 5, 2011 3:10 AM CST
Queen Elizabeth II arrives for a day-long visit to Liverpool last week.   (Getty Images)

(Newser) – Britain's queen is facing a royal comedown as new austerity measures will likely trim her income to some $48 million, which will be frozen until 2015. It's actually a sizable cut from the good old days in 1991, when her take was a hefty $125 million. So what does it mean? Repairs will have to wait at palaces, and there won't be much in the till to boost the court of the darling Duke and Duchess of Cambridge. The cost of the couple's staff will continue to be paid for by the Prince of Wales. Buckingham Palace is also likely to do some private fundraising, or cut back on appearances by the royals, muses the Telegraph. But don't cry for the queen. She has her own fortune of some $450 million, and recently spent $750,000 on a thoroughbred racehorse, notes the Express.