Prince William’s private secretary Ian Patrick said: “Prince William knows that for many people in Princetown, the prison has long been part of the fabric of the community.
“Its closure has created genuine uncertainty, not just about jobs and businesses, but about the future of the town itself.
“The duke felt strongly that, while those questions remain unanswered, the benefit of this income should remain in the community, helping local people shape that future.”
William pays income tax voluntarily at the highest rate on any net surplus, but once official expenditure has been deducted.
He received a private income of £21.6m in 2025-26, the latest Duchy accounts showed, with the duke also revealing his tax bill of £7.76m for the first time.
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