To Top

Prince Charles’ taxpayer funding drops by nearly half as his overseas costs are reduced


Prince Charles public spending has fallen by nearly half

Public funding for Prince Charles has fallen by nearly half in the last financial year.

New figures released on Friday revealed funding for the Prince of Wales fell from £2.2m to £1.2. The figures come a day after it was revealed the Queen will see her public funding increase next year.

The report shows that Prince Charles managed to reduce his bill as his travel costs were lower as overseas visits were funded by the countries he was visiting.

It was also revealed that the Prince’s private income, which comes from the Duchy of Cornwall, the land given to the heir to the throne to provide an income for the future king, has gone up by four per cent to £19 million, giving the Prince a total income of £20.2m in the year 2012-13.

Clarence House added that more than half of his income, after tax, from the Duchy of Cornwall, is spent on official and charitable duties undertaken by the Prince and his household.

“In 2012-13, the Prince of Wales undertook a total of 657 official engagements, of which 154 were overseas, and the Duchess of Cornwall undertook 277 engagements, of which 122 were overseas,” the future king’s annual report said.

Charles and Camilla travelled nearly 58,000 miles last year, as they carried out their royal duties at home and abroad.

Prince Charles’ public spending is revealed just a day after the Queen’s spending was released.

It was confirmed on Thursday, the Queen is to receive a rise in her income from the Sovereign Grant for a second year after the Crown Estate saw profits rise for a second year.

The Sovereign Grant, which acts a fund for the Queen and her family to carry out their duties, here and across the world, will rise from £36.1m to £37.89m in 2014.

This increase will come as the performance of the Crown Estate improves. The Queen receives 15 per cent of the estate profits, which funds the Sovereign Grant.

photo credit: Downing Street via photopin cc

More in Prince of Wales & Duchess of Cornwall