Prince Albert II of Monaco, whose fortune is estimated at €2 billion (£1.4 billion), received €287,308 in subsidies from the European Union Common Agricultural Policy last year.

The Prince was given the grants for the 700 hectares (1,730 acres) of farmland he owns in northern France. He is among the 24 biggest recipients of CAP subsidies in France, according to a study by the World Economy Group. Another farmer, who has 1,733 hectares of rice fields, was paid €866,290, researchers found.

“The bigger you are, the more you get,” La Tribune, the French daily, stated. “Is it right that European subsidies should be used to fill the accounts of luxury car dealerships in cereal-growing regions?” French farmers received €9.39 billion in European subsidies last year — more than any other country. British farmers received €3.99 billion.

Tony Blair has urged reform of Europe’s agricultural policies but President Chirac is resisting him. The Queen received £545,897 in subsidies under the CAP last year and the Prince of Wales received £225,465.

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