THE hours may be long and the responsibility overwhelming but there's no disputing that heir to the throne is a well-paid position.

A princely annual income of almost £12million in 2003/04 has put Charles up there with the country's top earners.

But it's not his wages that are raising eyebrows - more how he chooses to spend them.

MPs on the House of Commons' public accounts committee yesterday delved into the Prince of Wales's financial affairs in a bid to discover how much he spends on live-in partner Camilla Parker Bowles.

And the prince's aides and advisers could also be called to give evidence on his spending habits and whether Mrs Parker Bowles, who has no official royal role, shares any of his staff.

The inquiry comes hot on the heels of a National Audit Office report into Prince Andrew, which discovered he spent £325,000 of public money in a year hiring aircraft.

But because he is heir to the throne, the Prince does not rely on taxpayers' cash from the Civil List. Instead he, William and Harry are funded by the Duchy of Cornwall.

This 56,000 hectare estate, 1,430 hectares of which are in Dorset, owns residential properties, shops and offices and a portfolio of stocks and shares to generate income.

A review of his accounts last year revealed the Duchy of Cornwall grew by 14 per cent in 2003/04 and is now worth more than £463million.

After deducting business expenditure and tax, the prince was left with £2million to meet his private spending.

But Labour MP Jim Knight, who represents South Dorset, said he was happy with the funding arrangement.

"He's not a cost to the public purse in respect of the civil list so in that sense he's excellent value for money," he said.

"Obviously the public accounts committee is now looking into the way the Duchy is run and I'll look at that with interest. But on the face of it, I'm content that he's not a drain on the public purse because he's effectively self-financing."

He's not so sure when it comes to Andrew, however. "I think if there's any evidence to show that Andrew is using the public purse in order to do things like go and play golf, that should be curtailed. I would not regard that as appropriate in any way."

First published: February 8