Austerity Measures In U.K. Affect Queen And Family

Under new cost cutting measures, the queen's pay will be frozen until 2015. She reportedly receives around $50 million a year in taxpayer funds. Before the economy took a dive, she received more than double that.

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STEVE INSKEEP, HOST:

And today's last word in business is royal haircut. Austerity measures in the U.K. are affecting even Queen Elizabeth and her family. Under new cost-cutting measures, the queen's pay will be frozen until 2015. So she will likely have to put off home repairs at Buckingham Palace. Prince Charles will now have to foot the travel and security bills for his son and daughter-in-law, William and Kate, relieving British taxpayers of that burden. And the queen has apparently given the okay to rent out rooms for corporate parties at St. James Palace during the London Olympics next year.

The queen reportedly receives around $50 million per year in taxpayer funds. But before the economy took a dive, she received more than double that. That's the business news on MORNING EDITION from NPR News. I'm Steve Inskeep.

LINDA WERTHEIMER, HOST:

And I'm Linda Wertheimer.

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