The celebration is planned over 3 days and includes a large public march in addition to festive appearances in the streets.
Unlike royal weddings, the costs of which are borne by the royal family, funding for the king’s coronation celebrations will come from government funds and taxpayers, with the full cost estimated months after the event, which has a global following .
Details of the royal ceremony
Charles, 74, will be crowned at Westminster Abbey in London, in a grand ceremony in which he will wear or hand over special ceremonial dress adorned with religious and historical symbols. Around 5,000 members of the British Armed Forces take part in the coronation of King Charles III, joined by soldiers from more than 30 Commonwealth nations to form one of the biggest military celebrations in decades. Gun salutes will ring out across the country to mark the moment of the King’s coronation before military personnel later fly more than 60 World War II Spitfires and modern fighter jets. Over 2,200 guests will attend the coronation of King Charles, including representatives from 203 countries as well as civil and charitable societies.
Sovereign grant
A Buckingham Palace spokesperson said that since King Charles’ coronation is a patriotic event for the country, its sources of funding include the Sovereign Grant, as well as the UK government. Much of the Royal Family’s expenses are covered by an annual payment from taxpayers known as the Sovereign Grant, which represents the Royal Family’s private income, primarily from the Duchy of Lancaster, and according to the latest estimate, £86 million. pound sterling. This money is provided by the government to the King on the basis of the profits of the “Crown” Estate Company, which is a huge group of land, property and assets in the United Kingdom owned by the British King, and its net profits in 2020 was around $475 million. The Sovereign Grant was set at 15% by agreement in 1760, before being temporarily increased to cover major modernization work at Buckingham Palace.
The cost has doubled
The coronation of the late Queen Elizabeth II cost £1.5million in 1953, equivalent to £56million today.
Analysts believe that the doubling of the cost of King Charles’ coronation ceremony is mainly due to the current tightening of security, especially with regard to the risks of potential terrorist attacks, which was not a big problem in the fifties of the last century.
But as the UK suffers from a cost of living crisis, Britons on social media have criticized the Royal Family for hosting such a lavish event.
According to a poll by ‘YouGov’, a UK-based international market research company, 51% of Britons do not think the coronation should be funded by taxpayers.
However, British newspapers revealed that King Charles III was sympathetic to these views and decided to “cut down” the celebrations, as the ceremony will be shorter than his mother’s, as it lasts 90 minutes to two hours instead. 3 hours like that of Queen Elizabeth. .
Promotion of tourism
On the other hand, some royalists believe it’s ‘worth the expense’, while UK newspaper ‘The Sun’ reported that worldwide TV rights for the ceremony will cover much of the cost, and that also helps to promote tourism and revive the country’s economy. As in previous weddings.
According to consulting firm ‘Brand Finance’, William and Kate’s marriage generated more than 1.5 billion euros for the British economy in 2018.
A palace spokesperson said there were reports that more than a billion pounds ($1.25 billion) were expected to flow into the UK economy following the coronation ceremony.
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