Spain's scandal-hit royals cut spending

Spain's scandal-hit royal family are squeezing their budgets and providing greater transparency about their spending.

Spain's king has had his salary frozen for a third year, the scandal-hit palace says, publishing its slimmed-down budget for 2014 after promising greater transparency about how it spends taxpayers' money.

The royal palace's budget was cut by two per cent to 7.78 million euros ($A12.09 million) under the state spending plan approved in 2013.

On Monday, it published online a breakdown of how that money is spent, part of its efforts to appear more transparent as it suffers from a fraud scandal embroiling the king's youngest daughter.

The palace budget includes King Juan Carlos's salary, which is frozen for the third year running, like those of all top public servants under Spain's crisis cost-cutting measures.

Under the 2014 budget the king gets 292,752 euros, covering a fixed salary plus expenses for official functions.

Juan Carlos's son and heir Felipe, 46, gets a salary worth half that of his father's - 146,376 euros.

The budget for the first time fixes the income for Juan Carlos's wife Queen Sofia and Felipe's wife, Princess Letizia, at 45 per cent and 35 per cent of the king's revenue respectively.

The royal family had its revenues cut in 2010 and then frozen in the following years as Spain fought to stabilise its public finances.


2 min read

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Updated

Source: AAP



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