Prince Charles Pressured To Quit Money-Making Duchy
British royal Prince Charles faces losing his role running the lucrative Duchy Of Cornwall estate after a parliamentary review of his income exposed shocking financial "obscurities".
The Duchy has been slammed for being run on aggressively commercial grounds, earning Charles a staggering $23 million (GBP13.3 million) last year (04) - with its total value standing at $880 million (GBP505 million).
Charles has also been criticised for effectively paying himself $586,000 (GBP336,000) rent every year, as the money he pays for his Highgrove estate in rural England goes straight into the Duchy account.
Conservative Party member EDWARD LEIGH says, "As these arrangements have been in place for over 600 years, a review would hardly be over-hasty.
"I cannot understand why these accounts are not subject to the same disclosure requirements as other accounts presented to Parliament."28/07/2005 01:57