King Charles' coronation is £50m more expensive than Queen Elizabeth's: Who is paying for it?

King Charles will be crowned King on May 6, alongside his wife, Camilla, who will be crowned Queen Consort. The coronation will be broadcasted live on television for those who cannot attend in person but still want to watch.

Since it is the first coronation in decades, it will be a grand affair and naturally a pricy affair too. Amidst the cost-of-living crisis, many are questioning if the coronation is appropriate and how much will it cost the country to fund.

Even though the coronation will cost money, it will also bring in some thanks to the massive boost in tourism.

How much will the King Charles’ coronation cost?

As reported by Daily Mail, King Charles’ coronation is estimated to cost around £100 million. In comparison, his late mother, Queen Elizabeth’s coronation in 1953 cost £1.5 million back then.

In today’s money, Queen Elizabeth’s coronation would have cost £50 million. Despite King Charles only having 2,000 guests, his coronation is more expensive than his mother’s due to the increase in security, which wasn’t as big of a concern back in 1953.

A source told The Sun:

In today's money the 1953 coronation cost around £50million but estimates for King Charles's are twice that because of things like security, which weren't such a big issue back then

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The UK was in a crisis for Queen Elizabeth’s coronation as well

We all know that the UK is currently going through a tough time with the cost-of-living crisis. King Charles’ coronation won’t be the first to be during a national crisis.

Indeed, when Queen Elizabeth was crowned in 1953, the UK was still paying off the costs of World War II and recovering from it. At the time of the coronation, food rationing was still in place.

Perhaps the coronation will bring a bit of light to dark times, as it did with Queen Elizabeth, 70 years ago.

Who pays for King Charles’ coronation?

The main question everyone wants to know is: Who pays for the coronation? The British Government is the one who pays, thanks to tax-payers' money.

Cabinet Office minister Oliver Dowden explained that it has always been tradition for the government to pay for the Royal Family coronations. Moreover, as King Charles is the Head of State, it is ‘important that we mark that properly.’

He also explained that the coronation is not only a big day for the Royal Family but also for our nation:

It is right that we celebrate this moment in the life of our nation and do so in an appropriate fashion and in away that the nation can come together in celebrating.

These are moments in the life of our nation. They bring joy to millions of people. They also mark us out as a nation around the world.

Does King Charles’ coronation make money for the UK?

Another common question people want to know is whether or not the coronation will bring in some money for the country and not just take it out.

In simple terms, yes, the coronation will generate money for the UK, mainly thanks to the massive boost in tourism. We already know that the Royal Family is a big tourist attraction, and therefore the coronation is too.

A source told The Sun that many hotels are already booked for the big day:

But 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

As the Government decided to add an extra bank holiday this year, this has cost the country £2.39 billion. However, as pubs will be allowed to stay open later than usual on Sunday, May 7, the country should bring in around £1 billion.

Read more ⋙ Brits issued urgent warning ahead of King Charles’ coronation

Sources used:

Daily Mail: ‘How much will King Charles' coronation cost UK taxpayers?’

The Sun: ‘THE CROWN King Charles coronation: Everything we know so far’