Looks like the global financial crisis has finally made its way to the royal family. Reports have been released that even that even the queen herself will experience a dent in her bank account.

The queen has British austerity issues as well as a certain royal wedding to thank for the pay freeze which will likely be continued on to 2015.

It was the labour party's Paul Flynn who was foremost in urging her majesty to show a bit of prudence in solidarity with her subjects (a.k.a. the British public) who also have to deal with pay cuts and freezes.

"We must apply the same financial discipline as we apply to the poorest in society to those who are in the royal family," Flynn said. Treasury chief George Osborne has said that policies are being put forward for approval to lawmakers who would see public funding of the royal family go down about 9 percent by the aforementioned year.

If the government's plan were to be underway, the royal household would be given an anticipated 34 million pounds ($55 million) in the fiscal years 2013-2014. The figure is in the same region of what they are currently receiving and would be in effect would be a cut in her subsidy once inflation is taken into account.

Osborne said that in a modification to existing practice, the queen had already agreed to make available Britain's National Audit Office to inspect her family's accounts. "This is a big and historic extension to parliamentary scrutiny and I would like to thank Her Majesty for opening up the books," he said.

Britain's government is cutting back a total of 81 billion pounds ($130 billion) from public expenses over the coming 4 years under a severe program to bring down the country's budget deficit. The propositions are arranged to be discussed in full by legislators in the approaching months.

Royal Wedding