It has been speculated that the Queen may be forced out of Buckingham Palace after it was revealed the Royal residence was in need of maintenance.

It was discovered as the Sovereign Grant Annual Report for 2014-15 stated that net expenditure spent by the Royal Household was £35.7m.

Sir Alan Reid, Keeper of the Privy Purse, said: “Over the coming years, the maintenance of the Estate and in particular Buckingham Palace will present a significant financial challenge.

“We will continue to work closely with the Royal Trustees to ensure that the funding for the Royal Household reflects that challenge.”

The report actually revealed that property maintenance spent by the Royal Household fell in the year to the 31st March 2015, from £13.3m in 2014 to £11.7m.

The saving has been put into the Sovereign Grant Reserve to meet the future cost of re-servicing Buckingham Palace.

Last year £0.3m was spent on the removal of asbestos in the basement floor ducts of the Buckingham Palace East Wing, £0.3m on the refurbishment of State Glass Pantry, £0.7m of resurfacing of road way and paths and £0.8m on renewal of slate and lead roof coverings.

When asked, Buckingham Palace said it was “speculative” that the Queen would be forced to move and there was no answer when asked when refurbishment would take place however they were reviewing estimations and options.