King Charles III Coronation will take place on May 6, 2023 and is reportedly expected to welcome around 2,000 guests
King Charles III’s Coronation ceremony is just around the corner and with May 6, 2023 being the grand day, all eyes are naturally set on the Royal family, especially Queen Camilla. While the royal event is expected to have a lot of grandeur, many are asking how much will the King Charles’ coronation cost and who is exactly paying for it.
King Charles’ Coronation – The Cost
According to Grazia, King Charles’ coronation, expected to capture the attention of millions across the world, is expected to cost around a whopping £100 million. But there’s a catch. The report adds that in the event of current cost of living crisis, the “King himself has requested a much more reserved Coronation.”
Many UK media reports would confirm the same.
As per Euronews., when the late Queen Elizabeth II was crowned a whopping £1.5 million was spent in 1953 which is equivalent to €56 million in today’s money. Back then while around 8,000 people attended the ceremony, King Charles has reportedly requested a shorter event with a smaller guest list.
King Charles III Coronation – Who Pays For The Grand Event?
As per UK media reports, since the lavish Coronation of King Charles III is a state event, the UK government will be largely paying for it. Grazia, in its report, also mentions that the event will be funded by the taxpayer – trimmings and trappings included.
However, the BBC suggests that some of the funding for King Charles’ Coronation will also come from the Privy Purse which is the Royal Family’s private income. This reportedly mostly comes from the Duchy of Lancaster.
The above-mentioned report by Euronews. also explains that much of the Royal Family’s expenses get covered by an annual taxpayer payment called the Sovereign Grant. This funding of the Grant reportedly comes from a percentage of the profits of the Crown Estate revenue.