Prince Charles gets 23.5% more cash from taxpayer

Ministers increased the money they gave Charles by 23.5 per cent, largely because the amount he spent on official travel rose by nearly 50 per cent to £1.71 million.

Charles and his wife Camilla took two long-haul trips involving private jets to Japan and Indonesia last autumn and to South America in March, which aides now admit cost more than £1 million in total. The figure is almost double what Clarence House staff briefed when the tours were announced.

An overview of the Prince's finances was contained today in the accounts of his Duchy of Cornwall estate, which suggest that he has made his private income "recession-proof".

His private funds — the profits made by his estate — remained steady despite the capital value of the Duchy falling by 7.4 per cent from £647 million to £599 million. The money he received rose by one per cent from £16.3 million to £16.5 million.

Aides put the sound finances down to savvy investing.

The Duchy sold about £40 million of stocks and shares in September 2007, shortly before the financial downturn. In the past decade, the Prince's financial advisers have also invested in agricultural land, the value of which is now at a 15-year high.

The accounts also reveal that Charles's income tax bill fell from £3.43 million to £3.1 million because he offset more than £2 million extra in official expenses against tax. These added work costs include £800,000 more than the previous year on salaries, after six more staff were employed. He now has 125 full-time staff.

An extra £46,000 was spent on "external consultancy and professional fees" and £527,000, nearly £90,000 more than last year, on "official entertaining and receptions".

The Prince's private secretary Sir Michael Peat said all his foreign tours were "requested and paid for by the Government for good reasons". He added that Charles's private expenditure on himself, his wife and sons fell by more than £500,000 to £1.71 million last year.