Spain’s royal family budget frozen due to crisis

30th September 2009, Comments 0 comments

King Juan Carlos and his family will have to spend within the royal budget of EUR 8.96 million for 2010.

Madrid – Spain's royal household will have to rein in its spending 2010 as its annual budget will be frozen amid the country's worst recession in decades.

The freeze was included in the Socialist government's 2010 budget presented to parliament on Tuesday.

It said King Juan Carlos and his family will have to live on the same EUR 8.96 million as this year.

The move comes as the country is battling its first recession in 15 years and amid soaring unemployment.

In 2008, the increase in the royal budget was cut to 2.7 percent from the 4.5 percent hike in 2007.

The government of Prime Minister Jose Luis Rodriguez Zapatero Saturday adopted an austere 2010 budget that envisages tax hikes worth nearly EUR 11 billion and a cut in public spending to curb the soaring deficit.

AFP / Expatica

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