Royal finances to be investigated
An inquiry into the finances of the Royal Family is set to be launched by the Public Accounts Committee, it has emerged.
An inquiry into the finances of the Royal Family is set to be launched by the Public Accounts Committee, it has emerged.
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The committee will look into the accounts of the Duchies of Cornwall and Lancaster, which provides millions of pounds of assets to Prince Charles and the Queen.
Labour MP and committee member Ian Davidson told the Mail On Sunday: ‘It is very important that we look at the Royal accounts. The monarchy receives special tax exemptions that are effectively subsidised from the Treasury.
‘We want to see whether the public is getting value for money, and that this isn’t some sort of tax fiddle for the Royals. Once we start the investigation, we don’t know what else we will find.’
The secretary of the Duchy of Cornwall, Bertie Ross, has been asked to give evidence to the committee on February 7 at the House of Commons.
It will also look into the Duchy of Lancaster, which is the Queen’s landed estate – worth about £7 million a year.