The coronation of King Charles III and Queen Camilla is set to take place this Saturday, marking the first coronation in more than 70 years. The United Kingdom is preparing for a three-day celebration with street parties and a grand public procession.
However, there is a question that is on many people’s minds: what will the coronation cost, and who will be responsible for paying for it? The answer to this question is not straightforward. Typically, the total cost of such events is only available months or even years after they have taken place.
However, the estimated cost of the coronation is around €113 million, according to the ceremony’s organizers. Unlike weddings, which are paid for by the Royal Family, the coronation is a state function, meaning that taxpayers will foot the bill.
The Royal Family’s expenses are largely covered by the annual Sovereign Grant, which is funded by a percentage of the profits of the Crown Estate revenue collection of lands and holdings owned by the monarch during their reign but independently controlled by a board. In 2022, the Sovereign Grant was set at the equivalent of €97 million, or roughly €1.50 for every person in the UK. Most of this payment goes towards property maintenance, payroll costs, travel expenditures, and events.
Compared to Queen Elizabeth II’s coronation in 1953, which cost £1.5 million, or the equivalent of €56 million in today’s money, King Charles III’s coronation will cost nearly double, mainly due to increased security measures.
The Crown, however, explained that King Charles III has decided to ‘slim down’ the celebrations. The ceremony will last 90 minutes to two hours, as opposed to the three hours it took for Queen Elizabeth II’s coronation.
King Charles III will be inviting fewer guests, with approximately 2,200 dignitaries and foreign leaders in attendance, compared to the 8,200 guests present in 1953. The King will also wear a military uniform instead of a custom-made and expensive coronation outfit.
King Tupou VI and Queen Nanasipau’u will be attending the Coronation of King Charles III and Queen Camilla.
Source: EuroNews