King Charles’ Coronation Ceremony is mere days away – and, as with any royal event, the purse strings are being opened for a whole lot of grandeur.
A historic and extravagant event, the new monarch’s big day will no doubt capture millions across the world, with costs expected to be around £100 million.
In light of the current cost of living crisis, the King himself has requested a much more reserved Coronation. When Queen Elizabeth II was crowned, a whopping 8,000 people attended the three-hour service in Westminster Abbey. It’s believed that King Charles has requested a shorter event with a smaller guest list.
What is the cost of the Coronation?
The Operation Golden Orb committee, who are planning the grand ceremony, estimated that King Charles III’s Coronation will cost around £100 million – however this hasn’t been officially confirmed.
In today’s money, the late Queen's 1953 Coronation would have cost around £50 million pounds. Despite Charles’ plans to strip back the event, his big day will cost double that of his mother's.
Who is paying for the Coronation?
As the Coronation is a state event, the UK government will be paying for King Charles III’s Coronation. Essentially, the event will be funded by the taxpayer – trimmings and trappings included.
However, the new monarch has allegedly asked for the publicly-funded ceremony to be far more low-key than that of his predecessors. Insiders say it’s part of his mission to create a more financially viable royal family.
Cabinet Officer minister Oliver Dowden shared that the King and the government are ‘mindful of ensuring that there is value of the taxpayer’ when it comes down the event.
How much will security cost?
Speaking to The Sun, a source said ‘Estimates for King Charles are twice that [of his mother's] because of things like security, which weren’t such a big issue back then.’
It’s not yet known exactly how much security costs are expected to be, however it’s likely a hefty sum. For reference, security for Prince Harry and Meghan Markle’s 2018 wedding was an estimated £30 million, including snipers, drones, and undercover police.
And it’s not only security costs for the royals that need to be included. During the Queen’s Platinum Jubliee, it cost the Metropolitan Police more than £8 million.
How much will the ceremony cost?
Exact costs aren't known, but palace insiders have said the actual ceremony will be much shorter than normal, and have only 2000 guests.
How much will the bank holiday cost?
The Coronation has already been marked as a bank holiday, which brings its own unique costs. According to a previous report by the Centre for Economics and Business Research, each UK bank holiday costs the country around £2.3 billion.
How much will the parade cost?
King Charles and Camilla will travel to Westminster Abbey from Buckingham Palace, before returning with other Royals as part of the Coronation Process. Exact costs aren’t known.
How much will transport cost?
The cost isn't set in stone yet, but private transport will be yet another costly aspect.
In the past, Royals have been given chauffeurs for large scale events. As for the cars themselves, royal transport is rumoured to have some expensive upgrades. The late Queen’s Bentley had all of its bodywork and glass specially strengthened, as well as the cabin being blast-resistant with the ability to seal air-tight in case of a gas attack. As the new King, any transport taken by Charles will likely have the same level of protection.
How much will flowers cost?
There's likely to be added costs in the form of decorations and flowers for the big day.
How much will music and entertainment cost?
It is not yet known exactly how much costs will be for performances – or if there will be any costs.
During the late Queen’s Diamond Jubilee concert that took place at Buckingham Palace last year, all artists that performed were playing for free with the costs of staging met by the BBC. The event was allegedly sold to over 140 countries, meaning the platform likely made back more revenue from the event than they spent, with surplus donated to the Diamond Jubilee Trust. It’s not known whether a similar pattern would be followed for the Kings’ Coronation.
Lionel Richie, Take That and Katy Perry are headlining the event.
There will also be other music performed in the form of 12 newly commissioned pieces of music – including a Coronation Anthem from musical icon Andrew Lloyd-Webber. Alongside this, the King has reportedly requested for Greek Orthodox music to be played in tribute to his father. The exact cost of these are not known.
How much will coverage cost?
Although expensive for taxpayers, a source told The Sun that money will more than be made back with the attention the event will gain.
They shared, ‘Worldwide TV rights will more than cover the cost, and it will be a massive boost to tourism. Hotels are already being booked out for the Coronation weekend.’
One consultancy firm has estimated that the Coronation will drive an extra £1 billion into the UK economy.
How much did the Queen's funeral cost?
Queen Elizabeth II’s funeral was another event funded by the taxpayer. Whilst official figures have not yet been confirmed, it’s been estimated that the state funeral would have cost millions.
Previous funerals for royals have been costly, with the Queen Mother’s reportedly costing £5.4 million. Speaking to The Big Issue, royal expert Elizabeth Norton said costs for the Queen’s would be ‘probably a fair bit more.'
Who will pay for Prince Harry to attend the Coronation?
It was recently confirmed that Prince Harry will attend the Coronation alone - with Meghan Markle remaining in LA with their two young children.
Where will Harry stay?
It was recently revealed that the pair were being evicted from their Frogmore Cottage home by the new King. Some reports have said that Harry will be offered a room in the Palace to stay at. Others have alleged the pair have been given extra time on their Frogmore lease to arrange for their belongings to be shipped to America – meaning Harry could stay at his former home during the Coronation.
Who will pay for Harry's security?
Prince Harry and Meghan Markle have been in a battle with the Home Office over the former working-royals' right to police protection when in the UK. Currently, the pair personally fund their own private security team.
It’s not known whether Prince Harry will fall under overall security costs for the Coronation.