London - Spending by the royal family was cut last year to £35 million, saving taxpayers a further £3 million, Buckingham Palace announced yesterday at a unique financial briefing in Queen Elizabeth's boiler room.
Palace officials chose the unusual basement location to illustrate economies of £200,000 a year through the installation of a new, more efficient heat and power unit.
The queen's treasurer, Sir Michael Peat, said savings to the taxpayer had amounted to £48 million in the nine years from 1991 to 2000.
Taking into account Crown Estate revenues surrendered by the queen to the public purse, the monarchy actually cost taxpayers nothing and was in credit, he said.