Newspaper article The Journal (Newcastle, England)

Prince Makes a Royal Mint

Newspaper article The Journal (Newcastle, England)

Prince Makes a Royal Mint

Article excerpt

Byline: By John Bingham

The Prince of Wales saw his personal income soar by 27pc last year to almost pounds 10m, official figures showed today.

The Prince, who unlike the Queen and the Duke of Edinburgh, does not have an official allowance from the taxpayer, received pounds 9.9m from the Duchy of Cornwall in the last financial year compared to pounds 7.8m 12 months before.

While part of the increase came from changes to accounting practices, more than half was the result of shrewd financial decisions.

While falling stock markets around the world have hit the pockets of those who rely on shares for their income, the Duchy sold most of its shares and invested in other areas such as bonds, boosting profits from investments by pounds 1.1m.

But although the profits from the Duchy are intended to provide a personal income for the heir to the throne, the Prince spent 57pc of that cash - pounds 5.6m - funding his own official duties and charity activities. …

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