The Cabinet is giving Prince George a hand-crafted pine toy box as a christening present.
The Prime Minister's official spokesman said every member had made a contribution to the cost of the chest made by Hibba Toys of Leeds.
The spokesman would not reveal how much they paid, but the company's website advertises a solid pine toy box for £315 with a personalised version for £325.
"I think it was suggested as an appropriate gift by the Palace," the spokesman said. "Every member of the Cabinet is contributing."
Ministers are also making a charitable donation to the Royal Foundation of the Duke and Duchess of Cambridge and Prince Harry.