www.yahoo.com
Prince Charles' Income Is Nearly $17M
LONDON - Prince Charles' income from investments and property rose by 27 percent last year to nearly 10 million pounds ($17 million), according to official figures released Monday.
The prince, unlike his mother Queen Elizabeth II (news - web sites), does not receive an official allowance from the taxpayer. He receives an income from the Duchy of Cornwall, established in the 14th century to support the heir to the throne.
Although the profits from the duchy were intended to provide his personal income, the prince last year spent 57 percent of it, or $9.3 million, funding his official duties and charitable activities, the report said.
The figures are contained in a detailed expense report published by St. James's Palace in a move intended to increase transparency. The cost of everything from utility bills to office stationery is listed.
Prince Charles, who pays income tax of 40 percent, received $16.4 million from the duchy in the last financial year compared with $13 million the year before.
He has about 90 full-time official employees and a private staff of 17, including a chef, valets, gardeners and grooms whose salaries are paid out of his own pocket.
The $9.3 million he contributes to his official activities is not enough to cover everything, and the prince also received $5 million from the taxpayer, most of which came from grants to the queen.
Some of that money went for routine infrastructure costs, such as telephone lines for his offices at St. James's Palace, but most of it was spent on refurbishing Clarence House, the former home of his grandmother, the late Queen Mother Elizabeth, which is to become Prince Charles' official London residence.