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King Charles’ opulent coronation cost millions of taxpayers’ money amid economic crisis

King Charles' coronation not just included the members of the royal family but also nearly 2,000 guests

LONDON, UK: People across the world are witnessing the much-awaited coronation of King Charles, who ascended to the throne after the death of his mother, Queen Elizabeth II. As per reports, the festivities started at 11 am GMT on May 6, which not just included the members of the royal family but also nearly 2,000 guests with the likes of heads of state, Nobel Prize winners, religious representatives, and foreign ministers.

The ceremony took place at the iconic Westminster Abbey. Although the exact expenditure of the whole affair has not been released yet, BBC reported that it likely took away between $63 to $125 million from taxpayers’ pockets as well as Buckingham Palace's through the Sovereign Grant and Privy Purse. The royal affair is apparently “scaled back” because of the current economic crisis but reports have said that it’s still way more big-budgeted than the 1953 coronation of Queen Elizabeth II, which would probably have costed $57 million in current times.

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‘It is a lot of money to pay out’

Many people have criticized the public-funded coronation. A poll by YouGov concluded that 51% of participants believe that King Charles’ coronation should not use people’s money. Carol, a pensioner, told BBC London, “We're struggling for heating and eating and they're splashing all this money out. It is a lot of money to pay out and I think, in this day and age, they need to do it on a low budget.” However, another local named Len does not agree as he said, “If it brings something to our economy, let's go for it.”

Besides, the London Chamber of Commerce and Industry (LCCI) shared that from the economic point of view, the coronation is “overall, a good news story”. James Watkins, the LCCI's head of policy, noted, “Anything that hits that reputation is bad news, and now we have a major global event that the whole world wants to see and that is good for the bottom line for the business community and the jobs dependent on those businesses.”

Business consultant Abby Ghafoor, who works with firms across the capital, also stated, “It will be good for the bottom line, especially for the City of London and London, which generates 20% of the UK's gross domestic product (GDP). This will directly impact the economy of the UK.”

‘No other country could put on such a dazzling display’

Meanwhile, Twitter has been filled with congratulatory messages for the new monarch of the UK as former prime minister Boris Johnson tweeted, “Today - in a ceremony whose place, purpose, and personnel are essentially unchanged for 1000 years - we celebrate the continuity of our country and our institutions. Let’s unite behind Charles III and wish a long, happy life to him and Queen Camilla. God save the King!”

The current PM of the UK, Rishi Sunak, shared, “Today’s #Coronation is a moment of extraordinary national pride. No other country could put on such a dazzling display. But it is not just a spectacle. It’s a proud expression of our history, culture, and traditions. It is a vivid demonstration of the modern character of our country. And a cherished ritual through which a new era is born. God Save The King.” Manchester United added, “Sending our congratulations and best wishes to His Majesty King Charles III and The Queen Consort on their #Coronation May those celebrating have an enjoyable weekend.”

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