With the strain on the public purse forcing down the amount of money given to the royal family, her majesty Queen Elizabeth has announced a long-term sponsorship deal with payday loan company Wonga.
The deal, which will see her majesty and other senior royal wearing the Wonga logo on the back of ceremonial garments, is worth £50m per year. As part of the deal a rubber model of her majesty will also take part in television advertising, replacing one of the existing old ladies who feature in the adverts.
Buckingham Palace confirmed that a number of commercial sponsors had expressed interest in the deal. An offer of £75m per year from the catholic church was ruled out for religious reasons and an ever higher offer from Costa Coffee was rejected after the company confirmed that non of the royals have the skills or education to be offered a job in its Kensington branch.
A Palace spokesman also confirmed that there was 'Significant synergy' between the commercial operations of the Church of England and Wonga, and that the company's selection was the natural choice for the head of that church given the relationship which already exists.
Government ministers have expressed concern over the deal and have committed that similar sponsorship deals will not be accepted by politicians, with David Cameron stating 'After all we don't want any advertising or sponsorship at McDowning Street.'