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Business News/ News / World/  King Charles’ coronation: British taxpayers’ money worth 1021.5 crore will be spent for the grand ceremony
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King Charles’ coronation: British taxpayers’ money worth ₹1021.5 crore will be spent for the grand ceremony

The estimated cost of King Charles’ coronation is double that of Queen Elizabeth II's in 1953.

FILE - King Charles III salutes as he leaves Westminster Abbey following the state funeral service of Queen Elizabeth II in Westminster Abbey in central London, England, Monday Sept. 19, 2022.After waiting 74 years to become king, Charles has used his first six months on the throne to meet faith leaders across the country, reshuffle royal residences and stage his first overseas state visit. With the coronation just weeks away, Charles and the Buckingham Palace machine are working at top speed to show the new king at work. (AP Photo/Martin Meissner, File) (AP)Premium
FILE - King Charles III salutes as he leaves Westminster Abbey following the state funeral service of Queen Elizabeth II in Westminster Abbey in central London, England, Monday Sept. 19, 2022.After waiting 74 years to become king, Charles has used his first six months on the throne to meet faith leaders across the country, reshuffle royal residences and stage his first overseas state visit. With the coronation just weeks away, Charles and the Buckingham Palace machine are working at top speed to show the new king at work. (AP Photo/Martin Meissner, File) (AP)

The coronation of King Charles III is set to take place on May 6, and it is expected to cost around £100 million (over 1021.5 crore). The British government will foot the bill for the coronation since it’s a state affair. The Royal Family typically pays for weddings. This essentially means that the coronation will be funded by British taxpayers’ money.

The estimated cost is double that of the 1953 coronation of Queen Elizabeth II when the British government spent £1.5 million, which is equivalent to around £50 million (around 528.7 crore) today. However, the worldwide TV rights for the event are expected to more than cover the cost, and it will be a massive boost to tourism, according to The Sun.

Also Read: King Charles plays it safe, avoids controversy by excluding Kohinoor diamond in Coronation ceremony

The coronation committee, known as Operation Golden Orb, is planning the ceremony, and security is a significant issue. The procession route will be shorter than in 1953, but it is still expected to take 40 minutes to pass. The TV viewing figures for the coronation are anticipated to match the 37 million in the UK who watched the Queen’s funeral coverage.

King Charles III will break with tradition as coronations are not usually held on weekends. However, the date of May 6, was chosen because it does not clash with the FA Cup Final or the Derby. The ceremony will take place at Westminster Abbey, and King Charles III will sit in King Edward’s Chair, which is over 700 years old. He will be anointed with oil from a 900-year-old spoon.

Also Read: King Charles III’s private fortune estimated at whopping £1.8 billion

Like his mother, Queen Elizabeth II, King Charles III will travel to and from Westminster Abbey in the gold state coach. The coach was also used for Queen Elizabeth II’s coronation in 1953. King Charles III's coronation will be a massive boost to tourism, with hotels already being booked out for the coronation weekend.

Andrew Parker Bowles, the former husband of Camilla, will attend the Coronation service to watch as his ex-wife is crowned alongside King Charles III. Camilla and Andrew were married for 22 years until their divorce in 1995 and have two children and grandchildren together.

In 1953, three million people lined the specially-extended route to see the new Queen’s procession. King Charles’ procession is also expected to be a similarly grand affair, despite the shorter route. It will be a historic moment for the British monarchy, and the world will be watching as King Charles III is crowned.

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ABOUT THE AUTHOR
Sounak Mukhopadhyay
Sounak Mukhopadhyay, who also goes by the name Sounak Mukherjee, has been producing digital news since 2012. He's worked for the International Business Times, The Inquisitr, and Moneycontrol in the past. He's also contributed to Free Press Journal and TheRichest with feature articles. He covers news for a wide range of subjects including business, finance, economy, politics and sports. Before working with digital news publications, he worked as a freelance content writer.
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Published: 25 Apr 2023, 02:10 PM IST
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