King Charles III was crowned monarch in an expensive ceremony held on Saturday, May 6th, 2023
King Charles III may have scaled back his historic coronation ceremony held on Saturday, May 6th, 2023, but the event still bears a huge price tag.
According to BBC, the star-studded affair held at Westminster Abbey is estimated to cost between $63 million and $125 million. With a shorter duration and fewer attendees, the event was scaled back in light of the current economic climate.
While an exact price tag may not be released, however, the Royal Household will publish its annual financial statement detailing expenditures, in June.
The event — which includes a “king’s procession” and a concert in Windsor Castle featuring Katy Perry and Lionel Richie — is expected to be more expensive than Queen Elizabeth II’s coronation in 1953, which would have cost $57 million today.
The late Elizabeth II’s coronation cost £912,000 in 1953 – £20.5m ($259m) in today’s money – while Charles’ grandfather George VI was crowned at a cost of £454,000 in 1937 – worth £24.8m ($31.3m) in 2023 and the most expensive coronation of the last 300 years.
According to Time, the historic ceremony will cost the British taxpayers at least £100 million ($125 million). The grand event was a stark contrast to Britain’s economic crisis, in which decades-high inflation has led to crippling labour strikes.
Per the outlet, hundreds of thousands of British workers, among them doctors, teachers, and train drivers, have walked out of work in demand of better pay in recent months. Further strikes by traffic wardens and Heathrow Airport workers stand to cast a shadow on the coronation celebrations