PAY CUT: King Felipe voluntarily slashes his wage
PAY CUT: King Felipe voluntarily slashes his wage

KING Felipe VI has slashed his salary for 2015.

The Spanish monarch is living up to his pledge for a ‘more moderate, fewer-frills monarchy’ by taking a 20% pay cut for the year head.

A spokesman for the palace said Felipe, 47, would receive €234,204 for 2015, a fifth less than his father and predecessor, Juan Carlos, received as monarch before abdicating last June.

Juan Carlos will still receive all of his €187,356, in his role as honorary king.

The palace budget has been frozen or cut since 2009 due to the economic crisis. The 2015 budget will remain frozen at €7.8 million, the same as in 2014.

Since taking to the throne, Felipe has strived to improve the royal image which has been tarnished by a number of recent scandals.

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