Spanish Royal Family Studies Reductions in Costs and Salaries

King Juan Carlos and Prince Felipe

Sources from the Spanish Royal House announced today that it plans to reduce protocol costs and higher wages to save trim the € 170,000 that includes the draft State budget for this year.

Sources said it is expected that this pay cut affects the three senior management positions and eight general managers of the Royal House. Neither ruled out a reduction of fees on members of the royal family and said it’s premature to talk of a possible reduction in the remuneration of King Juan Carlos and Prince Felipe, heir to the Spanish Crown.

Last December, the Royal House released the annual salary of King Juan Carlos in 2011, was €292,752 (before withholding tax), of which € 152,233 are for expenses. The salary of the Prince of Asturias, Felipe de Borbon, heir to the throne, was € 146,376.

In total, the Spanish royal household received in 2011 from the State Budget € 8,434,280 million.

When the project of the State Budget has completed its passage through Parliament, in May or June, the Royal House would have decided how to divide internally their cuts and post them on their official website the final figure.

(BG)