After months of speculation, Clarence House, the official residence of the Prince of Wales announced today the engagement of HRH Prince William and Kate Middleton.
Prince William proposed to Kate Middleton in October 2010 during their holiday in Kenya. The Royal wedding is expected to take place in the spring or the summer of 2011 in London.
The couple, both 28, met in 2001 at the University of St. Andrews in Fife, Scotland.
The cost of the wedding
The cost of the Royal union is likely to run into millions of pounds and will be largely met by public funds. The main expenditure will be the huge security bill. Securing the Royal Family, VIP guests and the important locations will be the expense. The high-profile royal wedding will be draw thousands of fans and onlookers who will surround the venue.
In last month’s Comprehensive Spending Review, the Queen agreed to cut the Royal Household expenditure by 14% in 2012-13. The Buckingham Palace has cancelled its £50,000 Christmas party this year in view of reducing public expenditure.
The Department of Culture shells out an annual cost of £15m towards the upkeep and maintenance of royal palaces. The department has demanded that maintenance costs and Royal travel costs should be reduced by 25%.
Who will pay?
When the debt-ridden city of London is facing spending cuts and people are getting laid off work, it would be unfair for taxpayers to pay for the royal wedding. If taxpayers do end up paying, they probably could demand an invite to the extravaganza.