The cost of the King's coronation in the UK has been revealed to the public.

In May of 2023, the highly anticipated coronation of King Charles III took place, and the cost to the UK taxpayer was a staggering £72 million. This number was revealed in official accounts, which showed that the Department for Culture, Media and Sport (DCMS) was responsible for £50.3 million of the total expenses, while the Home Office contributed £21.7 million for policing the event.

The coronation was held at Westminster Abbey and was attended by dignitaries from all over the world. The following night, a star-studded concert was held at Windsor Castle. According to the DCMS annual report and accounts, the department was able to successfully organize and execute the central weekend of the coronation, which was enjoyed by millions both in the UK and abroad.

Despite the high cost, it is worth noting that the £72 million spent on the coronation was significantly lower than the £162 million spent on Queen Elizabeth II's funeral and events during the period of national mourning. The coronation was described as a "slimmed-down affair" and the accounts show an "underspend" of around £2.8 million.

The DCMS defended the expenses, stating that the coronation was a once-in-a-generation event that brought the entire country together in celebration. They also saw it as an opportunity to showcase the UK to the rest of the world and strengthen national identity.

However, there was criticism surrounding the use of public funds for the event, especially during a time when the country was facing a cost of living crisis. A YouGov poll conducted a month before the coronation revealed that 52% of Londoners did not believe that taxpayers should foot the bill for the event. Republic, a campaign group, went as far as calling the coronation a "pointless, archaic parade" and suggested that the money could have been used for more practical purposes, such as providing free school meals.

Republic's chief executive, Graham Smith, expressed disappointment in King Charles III's insistence on the extravagant coronation, stating that it was "shameful" to spend such a large sum of money while many people were struggling financially.

There were hopes that the coronation would boost the economy, but it actually ended up contracting in the month of May 2023. Experts attributed this to the cost of introducing a public holiday for the event. Despite this setback, the coronation was still considered a momentous occasion for the country.

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