A buncha bunting, a million commemorative tea cups, and a couple fancy crowns later, King Charles is officially, well, King. The coronation went down on Saturday without any major drama (just barely contained seething royal tension, per usual), and if you’re wondering how much all this pomp and circumstance cost…the answer is a lot. Like, a loooooot.
Buckingham Palace hasn’t released the official price tag on Prince Charles’ coronation, but according to BBC it’s expected to cost between £50 to 100 £million, although they report “that figure does not originate from an official source.”
So, who’s footing the bill? The BBC reports that because it’s a “state event” the coronation is being paid for by the UK Government as well as Buckingham Palace, via the Sovereign Grant and Privy Purse. So it’s at least in part being paid for by the British taxpayer, which apparently 52% of Londoners were not thrilled about.
The BBC spoke to one person who said “We’re struggling for heating and eating and they’re splashing all this money out,” while another countered with “If it brings something to our economy, let’s go for it.”
The coronation will, presumably, bring money into the British economy–at least if royal weddings are anything to go by. Most recently, Meghan Markle and Prince Harry’s royal wedding generated an estimated £1 billion for the British economy (including £300 million in travel and accommodation from tourists alone).
Mehera Bonner is a celebrity and entertainment news writer who enjoys Bravo and Antiques Roadshow with equal enthusiasm, She was previously entertainment editor at Marie Claire and has covered pop culture for over a decade.Â