Posted on 06/30/2008 3:35:20 PM PDT by blam
Prince Charles personal income up by £1 million but income tax down
By Andrew Pierce
Last Updated: 10:28PM BST 30/06/2008
The Prince of Wales's income from the Duchy of Cornwall soared by £1.1 million last year to £16.3 million but he paid less in income tax.
The Prince's financial advisers shrewdly switched out of shares last September
Despite the above inflation seven per cent rise in profits the tax bill for the heir to the throne fell by £5,000 to £3.429 million.
Sir Michael Peat, the Prince's private secretary, said the reduction was caused by higher expenses and costs involved in the official and charitable duties of the Prince.
The additional expenses included two extra members of staff to work full-time for Prince William and Prince Harry as their charity work continues to expand.
The annual report of the Prince of Wales and Duchess of Cornwall, which was published on Monday, revealed that their financial advisers shrewdly switched out of shares last September before the sharp fall in stock market values caused by the international credit crisis.
Sir Michael said: "It was a good year. The financial results have been strong in a volatile market."
The Prince of Wales has been a direct beneficiary of the sharply rising cost of food. The value of the Duchy of Cornwall estate, which is predominantly farmland, rose eight per cent to a record £647 million. The report said the increase was "almost entirely due to the greatest annual growth in the value of agricultural land for 25 years".
It added: "The investor's appetite for farmland follows the continued demand from lifestyle farmers but now combined with the fact food prices have reached an all time high and that there is a limited supply of land currently available on the
(Excerpt) Read more at telegraph.co.uk ...
I used to think that as an American, it was none of my business if the British wanted to keep their monarcy.
Since Prince Charles has embarked on this idiotic man-made global warming crap, I have since changed my mind.
Blam I got stupid question
If the UK get rid of Royal family what would tourist would see in the UK there is nothing is there?
“Since Prince Charles has embarked on this idiotic man-made global warming crap, I have since changed my mind.”
The same logic can be applied to our politicians with their criminal minds who promote the same theory and thereby slowly ruin our economy and impoverish low-income Americans.
Ancient Roman ruins.
Are you kidding? The UK is absolutely packed with history and historical sites. It is always one of the top tourists destinations in the world ... and most of those people never see the royal family.
Maybe the Prince should donate some of that money to an aggressive mosque-building program...given his “fondness for Islam.”
There is plenty to see in the UK. Go to the south of England and you will see some of the most glorious countryside ever..Then there is the museum at Dover, and so much more. I think the UK would be just find without the royals..and the history of the past, seeing the palaces and all the art therein would keep the country going..they don’t need Prince Charles or his lot at all. The royals that are worth anything are low key and have real jobs..
OH OKay only thing I know of is Big Ben and Royals and House of Common building
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.