Queen Elizabeth's royal pay cut: By the numbers

Even British monarchs are feeling the economy squeeze — though it didn't stop them from spending millions on this year's extravagant Royal Wedding

Queen Elizabeth may have to cut back on her baubles and championship horses now that her income has been diminished to only 15 percent of the profits from the Crown Estate.
(Image credit: REUTERS/Chris Jackson)

Not even the royal family is safe from Britain's plummeting economy. For decades, Queen Elizabeth II has been receiving a little less taxpayer funding each year. But now, under new austerity measures, she'll have her pay frozen until 2015. Instead of receiving tens of millions annually in taxpayer money, she'll receive 15 percent of the profits from the Crown Estate, which collects rents and taxes on Regent Street, a prime retail area, and much of the United Kingdom's shoreline. While many predict that the Queen's income will dip even further, it's hard to get exact estimates. "You don't really realize, but the queen is going around Buckingham Palace, turning off the lights, having fewer staff, even turning the heating down. She sometimes even writes letters in her very own fur coat," Royal magazine's Ingrid Seward tells ABC News. Here, a brief guide, by the numbers:

$120.6 million

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