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The Queen needs more cash to run monarchy say advisors

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Buckingham Palace officials have confirmed they are planning to ask the government for more money to run the royal household after being hit by rising costs. The credit crunch - increases in prices of fuel, food and home repairs - has resulted in the cost of maintaining the Queen's position as head of state almost doubling.

At the moment the British monarch's annual Civil List payment - which is negotiated with the government every ten years to fund the running of the monarchy- stands at £7.9 million. It has not increased in two decades, but officials say they have enough cash to cover shortfalls until they can reopen negotiations to raise the amount in 2010.

"Like so many we have been hit by rising costs, but fortunately our reserves adequately cover the extra expenditure we are now facing," a spokesperson tells the Daily Mail. "When the time comes we will, of course, be hoping for an increase - after all there are few people who haven't had a pay rise for 20 years."

Photo: ©

Although prices for fuel, food and home repairs have escalated, the Queens' annual £7.9 million Civil List payment – which is spent on running the monarchy – has not increased in 20 years. Officials will ask for an increase when it is renegotiated in 2010 Photo: © Getty Images