Britain's Queen Elizabeth 'costs' taxpayers about $112 a year each - a new report has revealed.

The Queen's financial public accounts - published on June 27 - also state the annual 'cost' of the monarch has risen by 4%, and now stands at the total of about $68 million.

According to BBC website, the increase has been blamed on additional security, employed by Buckingham Palace, following a line of safety breaches.

In 2003, a comedian - dressed as Islamic fundamentalist Osama Bin Laden - managed to illegally enter Prince William's 21st birthday party by climbing a palace fence.

In January this year, a tabloid reporter managed to obtain a job as a footman at Buckingham Palace, by using fake references.

Apart from security expenses, providing public information and long-haul overseas royal visits were stated as other reason for the increase in royal spending.

Alan Reid, royal financial spokesman, jokingly compared yesterday's news to the on-going football World Cup.

He was quoted as saying: "Given this is a World Cup year, $112 would buy you a ticket for one minute of England's game against Portugal on Saturday."

Yesterday, a similar report revealed that Britain's Prince Charles earns about $25.4 million a year and pays about $5.4 million in taxes.

The Prince of Wales revealed his financial situation for the first time ever - in a bid to become more "transparent and open" about the Palace's spending.

According to the report, the heir to the British throne had his income increased by about $1.4 million last year, while his tax only saw an increase of $60,000.

Meanwhile, Charles' wife - Duchess of Cornwall, Camilla Parker Bowles - was said to only 'cost' taxpayers $3,600 a year.

The low 'maintenance' cost of the heir's spouse was explained with minimal spending.

Charles said: "She lives in houses that are already there, she travels with the prince and I think there have only been three occasions when she has travelled on her own, at a cost of around $3,600."

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