King Charles' coronation: How much will it cost and who's paying for it?

King Charles' coronation: The new King is reportedly planning a "less expensive" coronation as the UK suffers a cost of living crisis and an unprecedented wave of protests. Here are all the details about the money spent and who will be paying for it.

As the United Kingdom faces a cost-of-living crisis and an unprecedented wave of protests, the new King is reportedly planning a "less expensive" coronation. The United Kingdom will celebrate the coronation of King Charles III and Queen Camilla on Saturday, the first coronation in more than 70 years. 

The country is going all out for a three-day celebration that will include street celebrations and a massive public parade. The final cost, like with jubilees and other comparable events, is only available months or even years after the event. However, the majority of experts believe the coronation will cost between €57 million and €113 million (£50 million to £100 million). 

According to Time magazine, the Operation Golden Orb team, which is in charge of preparing the coronation ceremony, the event might cost approximately 100 million pounds (around 1021.5 crore).

But one question appears to be on many people's minds: how much will this cost, and who will pay for it?

Unlike weddings, which are paid for by the Royal Family, the coronation is a governmental affair, thus taxpayers will be on the hook for the majority of the costs. The King's immense private fortune and extravagant lifestyle are diametrically opposed to the reality that most people in the UK face today.

In recent months, the UK has been rocked by a major wave of strikes, with nurses, junior doctors, midwives, healthcare workers, university personnel, railway drivers, and public servants - even airport passport checkers - all walking out over salary conflicts.

Most public sector employees have been granted 4% or 5% raises for the current fiscal year, which is much less than the annual inflation rate, which has been above 10% for seven months in a row. Food costs are growing at an especially severe rate: the cost of bread in March was up 19.4% year on year.

People on social media have been critical of the Royal Family for organising such a lavish event. 

The crowning of the King will display some of the tremendous treasures amassed by the British monarchy throughout the ages. There will be gilded carriages, precious diamonds, and custom-made designer costumes costing more than most people earn in a month.

In 1953, the late Queen Elizabeth's coronation cost £1.5 million. In today's money, that equates to €56 million.  The increased cost of Charles' coronation is mostly owing to security concerns, particularly the chance of a terrorist attack, which would not have been such a concern in the 1950s. 

The ceremony will be shorter than his mother's, lasting 90 minutes to two hours rather than three hours like Queen Elizabeth II's. 

In addition, Charles is inviting fewer people: around 2,200 dignitaries and international leaders will attend, compared to more than 8,200 visitors who attended Queen Elizabeth's coronation ceremony in 1953.

The King will also wear a military uniform rather than a custom-made and highly expensive coronation gown.