The Queen is believed to be economising by almost halving the number of racehorses she has in training this year from 30 to just 16.

According to a report in the Daily Mail, the Queen Mother is maintaining the 13 horses she has in training with Nicky Henderson and Francois Doumen, while the Queen is believed to be retaining all her 26 broodmares at the Sandringham stud.

Trainer Michael Stoute will be hit hardest, losing seven horses to keep just five, while Richard Hannon goes from 11 horses to six and Roger Charlton down from seven to five.

Ironically, last year the Queen enjoyed her most successful season to date with 11 winners registering more than £250,000 in prize money.

As a result of the cutbacks, it is estimated that the Queen’s monthly bills will be down from £36,000 to £19,200.