Queen Running Out Of Money By 2012

The total cost of keeping the monarchy increased by £1.5 million to £41.5 million during the last financial year, up three pence per persona year, to 69 pence.

The newly published accounts reveal that the Queen raided the reserve fund by £6 million, the largest ever, to supplement the Civil List.

The Queen's Civil List, which pays for the running of the Royal household including staff salaries, was £13.9 million but the government provides only £7.9 million which has been frozen since 1991.

The reserve, which was £35 million at its peak, has now dwindled to £14 million and Buckingham Palace estimates it will have disappeared by the end of 2011 when a new Civil List settlement is due to come into effect.Full Story