Spainish Royal Family Takes Another Pay Cut
Madrid – July 18th, 2012
The Spanish Royal Court has announced that the King and Prince of Asturias are to have their salaries cut by 7.1 percent. In another move to reduce the Royal budget, expenses claimed by other members of the Royal Family will also be cut.
The Royal budget for 2012 was set at around €8.3, which is down 2% from 2011 and overall quite small compare to other Royal Houses.
Given the country’s harsh austerity measures, its no surprise that the Royal Family would also have to tighten their royal belt.
The Spanish Royal Family also have not had a good year with the scandal surrounding the Duke of Palma’s financial dealings and the uproar and embarrassment caused by the King’s ill advised elephant-hunting safari to Botswana in April.Filed under Spanish Royals
Tagged Felipe VI, Finances, Juan Carlos I.