King Charles III will officially be crowned the British monarch today, May 6.
The historic occasion, which will be publicly funded, will take place in Westminster Abbey this morning.
So, just how much will the King’s coronation cost?
Although Buckingham Palace have not released any official figures, CNBC reported that Charles’ crowning ceremony will cost between £50 million and £100 million.
There is also a public holiday this Monday, May 8, in honour of the occasion – which will cost the UK economy an estimated £1.36 billion in lost productivity, per the outlet.
It has been reported that the historic event is being funded by the UK government, with Buckingham Palace contributing an undisclosed sum.
According to a UK poll, just over 50% of the population believe the coronation shouldn’t be funded by the government.
Charles and his wife Queen Camilla will leave Buckingham Palace in procession, known as The King’s Procession, at 10.20am this morning.
They are expected to arrive at Westminster Abbey at approximately 10.53am – where they will be joined by some 2,300 guests.
The service, conducted by the Archbishop of Canterbury, will begin at 11am and continue for two hours.
King Charles will officially be crowned the new British monarch at around midday; The Archbishop of Canterbury will place St Edward’s Crown on the 74-year-old’s head, and trumpets will sound and gun salutes will be fired across the UK.
The newly crowned King and Queen will then return to Buckingham Palace in procession, a 1.3km journey.
The couple will receive a royal salute from the military in the palace gardens at 1.45pm.
Charles and Camilla be joined on the balcony by other members of the Royal Family to watch a flypast at around 2.15pm.
For those who wish to watch the historic occasion from Ireland, RTÉ One will be broadcasting the event from 10am until 2.05pm.
Ray Kennedy will present the coverage, and will be joined by a number of guests.
If you’re looking for even more in-depth coverage of the coronation, BBC One, ITV and Sky will be broadcasting the ceremony from 7am until 3pm.
