Prince Charles has received a £700,000 boost to his income thanks to the performance of the Duchy of Cornwall. Official figures show that the Prince earned £19 million from the estate last year in comparison to £18.3 million in 2011.
The Duchy is a landed estate given to the heir to the throne to provide an income. It is also expected to fund the public, private and charitable activities of the Duchess of Cornwall, Prince William, the Duchess of Cambridge and Prince Harry.
The estate comprises over 53,000 hectares of land in 24 counties, though it is mainly concentrated in the South West of England. The assets of the Duchy consist of over 3,500 individual lettings including 1,000 commercial agreements.
Clarence House is keen to draw attention to the fact that the Prince spends £9.8 million, over half of his after tax income, supporting his charitable work. His office also stresses that the Prince pays income tax at the highest rate which, after deductions for business expenditure, stands at £4.4 million.
The annual report, which covers the 12 months to April, also shows that the Prince, either directly or indirectly, raised a total of £139 million to support his various charities. This represents an increase of £8 million on the previous year.
The report says; “In addition to supporting the highly successful London Olympics the Prince and the Duchess travelled the length and breadth of the country highlighting the ‘best of British’ including, among others, successful manufacturing businesses, community volunteering and sustainable fish and chips.”
Prince Charles employs 125 official staff, 15 estate workers and eight personal staff.
Previous Post
High Speed Broadband Plan Abandoned
