Duke of York's business activities could be scrutinised

Prince Andrew on Newsnight. Photo / BBC

The Duke of York is facing calls for his business dealings and private finances to be scrutinised by the British Parliament.

Members of the public finance committee say revelations Prince Andrew is entitled to a 2 per cent share for three years of any investment deal struck by his Pitch@Palace business venture, coupled with the row over his friendship with convicted sex offender Jeffrey Epstein, have raised questions.

The calls came as another institution dropped the Duke as a sponsor in the wake of his Newsnight interview.

The fee-paying Whitgift School in Croydon has written to parents saying it is looking to replace the Duke. It joins the Royal Philharmonic Orchestra and English National Ballet in cutting its ties with the Duke. Barclays Bank has withdrawn its sponsorship of Pitch@Palace.

A Sunday Telegraph investigation found the Duke of York undertook 30 foreign visits on behalf of Pitch@Palace since founding the business in 2014.

Although the business paid the cost, the taxpayer funded the security for the Prince — an estimated £175,000 ($350,524) for protection officers' pay, plus costs of £80,000 for their travel.

MP Nigel Mills, a long-standing member of the House of Commons public accounts committee, said the scheme should be subject to a parliamentary investigation. "It's very unusual for a royal initiative to be set up in this way, as a company. I am concerned about the way this undeniably good scheme has been set up because it looks like a departure from the norm," he said.

"I think it is something the PAC should look at in the next Parliament."

Layla Moran, who has served on the committee, agreed. "We must do due diligence if there's a suggestion that proper processes have been bypassed because it's got the royal branding."

A Buckingham Palace spokesman said on behalf of the company: "The [2 per cent] clause was never exercised and has since been deleted."