Queen Elizabeth II Hit by Budget Cuts

Queen Elizabeth II will be affected by cuts just like the rest of the English public, based on the emergency budget announced by Chancellor George Osbourne for the upcoming fiscal year.

A total of approximately $11.7 million will be subtracted from the Queen’s paycheck for the next year, which is approximately the amount spent on maintenance and the staffing of Buckingham Palace.

“I will propose a new means of consolidated support for Her Majesty for the future, at a later date,” said Osbourne in his statement on Tuesday.

The changes were made with the Queen’s full agreement, and the Chancellor also said that, in the future, civil list expenditures will be given the same scrutiny as other government expenses.

President Obama, who warned that extreme budget cuts could threaten economies in European countries, is meeting this week with the Group of 20 nations (G20) to discuss how this, among other problems, can be solved.