Elizabeth II: Queen runs short of money on 57th Coronation Day
Wednesday 2, June 2010
It's the British Queen's 57th Coronation Day and there's dearth of wealth in none other than a Queen's treasury!
Right now, talks are on between the British Government and Royal Palace aides on providing a multi-million-pound pay-hike to Queen Elizabeth.
There are possiblilities that, this request would annoy the British taxpayers in the wake of the coalition government recently announcing cuts of six billion pounds to revitalise the economy.
For her official duties, the Queen currently receives 7.9 million pounds annually.
Queen Elizabeth II's official budget is estimated to be overspent by 6 million pounds a year, according to The Sun.
It is being covered by a 35million pound emergency reserve, which is expected to run out by 2012.
While considering the surrounding circumstances, the request couldn't have been more ill-timed.
A senior royal source has said that, "By sheer chance, the timing is delicate and no one knew that it would be announced so soon after a change of government."