The eyes of the world will be on the U.K. this weekend as King Charles III is crowned at Westminster Abbey in a quintessentially British display of pomp and pageantry.
Buckingham Palace does not provide an official figure for the cost of the coronation, but estimates put it at between £50 million and £100 million.
It comes as the U.K. economy remains in the doldrums and many Britons struggle with daily expenses amid the country's cost-of-living crisis.Future Publishing | Getty ImagesThe coronation, which will be conducted by the Archbishop of Canterbury on Saturday May 6, will kickstart three days of celebrations across London and the wider U.K., culminating in a public holiday on May 8.
The service — the first of its kind in 70 years — is largely ceremonial, following the 74-year-old king's official accession to the thrown on September 8, 2022, the day of But while millions are expected to observe the historic occasion, it falls against a challenging economic backdrop for the U.K, with many questioning the validity of the event as the country faces its worst cost-of-living crisis in a generation.Buckingham Palace does not provide an exact figure for the cost of the coronation, nor did it respond to CNBC's request for comment.
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