The Dutch royal family has now overtaken Britain's as the most expensive in Europe, according to the annual report on the cost of European heads of state by Ghent University professor Herman Matthijs.

The Dutch royal family costs taxpayers 39,4 million euros annually, including 18 million euros in 'personal costs' and the queen’s working allowance of 830.000 euros, but not including the millions they spend on security.

The cost of subsidising Queen Beatrix and her children, including heir to the throne Crown-Prince Willem Alexander, his wife Princess Maxima, and their three young daughters, is approximately four times more than that of the Spanish royal family, which costs between 9 million and 10 million euros.

Austerity measures have cut the cost of the British royal household from 45,6 million euros to 38,2 million euros, a reduction of 16 percent, and Spain's King Juan Carlos and his son and heir, Prince Felipe, recently agreed take a pay cut of 7 percent, consistent with reductions imposed on public sector workers. Meanwhile, the Dutch queen has said that she sees 'no reason' to reduce her annual allowance.