Queen Elizabeth has to give up her plans for a £7 million private jet in this this credit crunch.

It was supposed to ferry the 82-year-old queen, her family and some government ministers to formal appointments, improving security and reducing use of costly chartered aircraft.

While the finalisation of this work, the Ministry of Defence decided that The Royal Squadron will provide continued support to the Royal Family until April 9, 2010.

But the queen supported by the government have decided to put the 12-seat plane on hold for 12 months, or until the global financial is over.

Until then, Queen Elizabeth will continue to fly in RAF or chartered aircraft.

Armed Forces Minister said: “Work has been carried out to explore solutions for non-scheduled and dedicated flights to support the Queen and members of the Royal Family in their official duties.

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