Pay talks for Lady Diana

Press, 27 February 1981, Page 6

Pay talks for Lady Diana

NZPA London Meetings to be held sdon between Buckingham Palace and the British Treasury are expected to establish; .arrangements for paying Prince Charles and Lady Diana. ■ , Prince Charles is the only member of the Royal Family, apart from Prince Edward, the Queen’s youngest son, who does not receive a share of the $8 million Civil List, the “Guardian” has reported. _ „ . Since he was 21, Prince Charles has lived largely off the income he receives from the Duchy of Cornwall, which owns 51,000 ha in nine counties.

He has an arrangement with Treasury whereby he hands back half the net profit from this source each 'year •— in 1979 he returned about §618,000 — and keeps toe rest.

But he reserved the right to alter this arrangement when he married, the newspaper said. The palace is likely to avoid a further burden on the Civil List.

The Duchy of Cornwall guarantees a handsome income to Prince Charles and Lady Diana. By far the most profitable land owned by the prince is 18 acres of Kennington, Lonton, where he controls about 850 tenancies and owns the Oval cricket ground. In 1979 the land brought in a total of $6,600,000 with total outgoings of $5,318,000. The net profit of $1,250,000 was split between himself and the Consolidated Fund. Last year, his share increased to $756,763. In addition he pays normal income tax on a number of investments, whose value and holdings are kept secret.