Palace: Taxpayer cost of UK monarchy up slightly

July 2, 2012

LONDON (AP) — Buckingham Palace says the taxpayer cost of supporting the British monarchy rose slightly for the financial year that ended March 31.

The amount has gone up 200,000 pounds ($320,000) to a total expenditure of 32.3 million pounds.

Much of this rise is attributed to high travel costs.

The cost of celebrating Queen Elizabeth II's Diamond Jubilee also strained finances.

The palace released figures Monday indicating that cost-cutting has been implemented on a number of fronts.

It cites a pay freeze, a reduction in the cost of operating the palace press office, and delays to planned property maintenance as factors helping keep costs down.