How much will the coronation cost?
The Operation Golden Orb committee, which is in charge of planning the coronation ceremony, estimates the event could cost around £100m, despite Charles having a smaller guest list of around 2,000 people.
In 1953, as Britain was recovering from the costs of World War II, with food rationing still in place, Winston Churchill’s government spent £1.5 million on the Queen’s coronation.
In today’s money, the 1953 coronation cost around £50 million, but estimates for King Charles’s are twice that because of things like security, which weren’t as big of an issue back then.
“But the worldwide TV rights will more than cover the costs and will be a massive boost to tourism. Hotels are already booked for the coronation weekend, a source told The Sun.
Who pays for the coronation?
Because it is a state event, Charles’ coronation will be paid for by the Government, using taxpayers’ money.
Cabinet minister Oliver Dowden previously said the King and the government were “taking care to ensure there is value for the taxpayer”.
He said: “It has always been the case that the government paid for coronations. The reason we do this is that the sovereign is our head of state and it is important to mark this appropriately.
“It is right to celebrate this moment in the life of our nation and to do so in a proper manner and in such a way that the nation can come together to celebrate. These are moments in the life of our nation. They bring joy to millions of people. It also highlights us as a nation around the world,” according to the Daily Mail.
Will the Government make money from the coronation?
Amid the cost of living crisis, the coronation is expected to provide a boost to Britain’s economy as tourism rises for the occasion
However, with pubs allowed to stay open later across the country on Sunday 7 May 2023, the coronation could boost the UK economy by up to £1 billion.
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