Prince Charles' public funding drops by 48%

The prince does "all he can to make a difference for the better", his annual report said

Public funding for the Prince of Wales fell from £2.2m to £1.2m in the last financial year, Clarence House says.

The prince's overseas travel bill for 2012-13 was reportedly much reduced as countries he visited funded his travel expenses.

Official accounts show that his total income last year was £20.2m.

Prince Charles' private income from the Duchy of Cornwall went up by 4% to just over £19m, BBC royal correspondent Peter Hunt said.

Officials say that more than half of his after-tax income from the duchy is spent on official and charitable duties, our correspondent added.

The 48% fall follows an 11.8% increase in 2011-12.

The prince allocated £11m to "official expenditure" and £2.5m to "non-official expenditure". He also paid £4.4m in tax.

He employs more than 148 staff at an annual cost of £6.3m, including chefs, valets, and gardeners and more than 125 staff to support his official and charitable activities.

"In 2012-13, the Prince of Wales undertook a total of 657 official engagements, of which 154 were overseas, and the Duchess of Cornwall undertook 277 engagements, of which 122 were overseas," the prince's annual report said.

On Thursday, Buckingham Palace accounts revealed that government spending on the monarchy rose by almost £1m to £33.3m in the last financial year.

The Queen's official expenditure increased by £900,000 in 2012-13.