“How much will King Charles’ coronation cost and who will foot the bill?”

The coronation of King Charles III and Queen Camilla is set to take place this Saturday in the UK, marking the first coronation in more than 70 years.

With the country facing a cost of living crisis and a wave of protests, many people are concerned about the cost of the event and who will be footing the bill. The organisers of the ceremony have estimated the cost at approximately €113 million, with taxpayers set to cover the cost as the coronation is a state function.

The cost of the coronation is double that of the late Queen Elizabeth’s coronation in 1953, mostly due to increased security risks. However, the new King is reportedly planning a “less expensive” coronation in response to criticism from the public.

The ceremony will be shorter than his mother’s, with fewer people in attendance, and the King will wear a military uniform instead of a custom-made coronation outfit. Some people are still critical of the event, with 51% of Britons believing the coronation should not be funded by taxpayers.

However, supporters argue that the worldwide TV rights for the ceremony and tourists traveling for the coronation will help boost the country’s economy. The wedding of William and Kate in 2018 brought in more than €1.5 billion for the British economy, according to consulting company Brand Finance.