Campaigners have called out reports that the Duchy of Cornwall is investing in affordable housing as 'more spin than substance.'

Anti-monarchy campaign Republic has pointed out that the Duchy is not William's personal property, and that the investment is a drop in the ocean compared to what's needed. William will make further profit from the homes, while over the next decade the country will spend at least £3.4bn on the royal family.

Reports suggest that Prince William is investing in affordable homes as part of his effort to end homelessness. Yet the Duchy of Cornwall is a Crown asset, state property that parliament gifts to the heir whenever the heir is also the eldest son of the monarch.

Campaigners have also pointed out that in recent times the Duchy has been accused of being a bad landlord, denying tenants the right to buy freeholds and pushing up leasehold rents.

Graham Smith, speaking for Republic, said today:

"The country will spend at least £3.4bn on the monarchy over the next decade. That's money that could be invested in homes for those who most need them, instead of two dozen palatial homes for one family."

"The public are well aware of the housing crisis because, unlike William, we are all dealing with the consequences of it. For William to trumpet this very limited scheme as a response to that crisis is nonsense."

"William claims more than £22m a year in private income from the Duchy, including money taken from the estates of those who die on Duchy land. That money should be spent in local communities. Instead he pockets it for himself and uses the Duchy to build homes from which he will make further profit."

"The monarchy represents and helps to perpetuate the very inequality that causes the housing crisis to persist. William is part of the problem, and his efforts at promoting himself through limited involvement in homelessness charities needs to stop."

"Rather than be thankful for a few homes built on Duchy land, which William will profit from, we all need to be demanding the return of the Duchy to full public ownership and an end to the monarchy."

See detailed report on the cost of the monarchy, which includes notes on the ownership of the Duchy of Cornwall HERE.