More specifically, the Queen’s salary will now fall under a formula that replaces taxpayer funding for royal travel and royal palaces, according to the U.K.’s Sunday Times. The monarch’s funding will now be more closely linked to profits at the Crown Estate instead of taxpayers’ money. That means Prince Charles will likely have to dole out more money for staff, security and travel for Prince William and Kate, Duchess of Cambridge, according to the report. In 2010-11, the royal household had an income of $32.1 million, down from $77.3 million back in 1991-92, reports MSNBC.com. Buckingham Palace may raise money from commercial sources, or cut back on public appearances by the royal family, according to The Daily Telegraph. The new austerity measures comes as the queen prepares a year-long diamond jubilee celebration, marking her 60th year on the throne.