The cost of the coronation has been kept under wraps. And the total sum is unlikely to be revealed until after Saturday’s event.
As the United Kingdom struggles with a rising cost of living and widespread pay strikes. Some Britons are questioning why taxpayers must foot the expense for King Charles III’s opulent coronation on Saturday.
“They got the money, why are they taking it from me?” Delany Gordon, a 50-year-old construction site manager, wonders.
The cost of the coronation has been kept secret. And the final amount is unlikely to be revealed until after the event on Saturday.
According to some estimates, the cost will be between 50 and 100 million pounds ($63 and $126 million) in addition to the cost of a large-scale security operation.
Eden Eawit, another Londoner, claims she saves money by cooking only two days a week and eating sandwiches the rest of the time.
“We’re not living the same life… People are struggling,” says the 38-year-old. “Some people don’t eat at all. It’s extremely difficult.”
Others have turned to charitable institutions, such as The Trussell Trust, which runs a nationwide network of food banks.
Between April and March of last year, the NGO said it distributed approximately three million emergency food kits to people in need, a 37 percent increase over the previous year.
“They are spending all of their earnings on bills and have no money left over for food.” It’s extremely unfortunate that someone may work full-time. And not have enough money to meet basic human necessities,” Andy Unsworth, a minister at the church who manages the Given Freely Freely Given food bank, told CNN.
Doncaster is one of the poorest areas in the United Kingdom, yet it is not alone. South Yorkshire, like many other parts of northern England, has never fully recovered from the industrial collapse. And mine closures of the 1980s and 1990s. Already suffering, the region has severely impacted by the acute cost of living crisis that is currently underway.
Yet at the same time, the UK government is getting ready to spend tens of millions of taxpayers’ money on a glitzy event celebrating one very, very rich man: King Charles III.
In recent months, the UK has rocked by a major wave of strikes, with nurses, junior doctors, midwives, healthcare workers, university personnel, railway drivers, and civil servants – including airport passport checkers – all walking out over salary conflicts.
Most public sector employees have granted 4% or 5% raises for the current fiscal yea. Which is much less than the annual inflation rate, which has been above 10% for seven months in a row. Food prices are rising at an especially severe rate. The cost of bread in March was up 19.4% year on year.
The wealth of monarchy
The extravagant wealth and opulent lifestyle of the King is a sharp contrast to the everyday reality of most people in the UK. The financial situation of the royal family shrouded in secrecy. With Buckingham Palace declining to comment on it citing their right to privacy. The Guardian newspaper speculated that Charles’ private wealth exceeds £1.8 billion, although the Palace dismissed this as inaccurate. Forbes estimated that the late Queen Elizabeth II had a personal fortune worth $500 million. Which included her investments, jewels, art collection, and two residences, Balmoral Castle and Sandringham House, both of which inherited by Charles.
The biggest financial benefit of being a monarch is the exemption from paying taxes. While the King voluntarily pays income tax, he did not have to pay inheritance tax on the properties inherited from his mother, which saved him millions of pounds. This exemption aimed at maintaining the independence of the monarchy, which has constitutional powers, from the government of the day.
The late Queen known for her relatively frugal lifestyle, while the King’s image is not quite the same. Although there were rumors that the Queen used Tupperware to store her breakfast cereals. And never threw out anything that was still usable, the King known to live a more lavish lifestyle.
Worse than ever
During his reign, Charles visited Doncaster to celebrate its official status as a city, despite the fact that many residents were struggling with poverty. Local community centers and charities have reported a surge in demand for their services due to rising living costs, including food banks and financial advice. Even those who work full-time are finding it difficult to make ends meet. Citizens Advice Doncaster Borough has an increase in inquiries related to debt and energy bills, and many people scared to turn on their heating due to the high costs. The situation has become more complex over time, leading to higher levels of mental health issues among the population. The healthcare system overstretched and struggling to cope, resulting in longer waiting times for appointments. Community centers are stepping up to provide counseling and support groups for survivors of abuse, while staff at Citizens Advice have undergone suicide awareness training.
Royal riches
The monarchy is defended to fans who claim it benefits British taxpayers by boosting tourism and spending. Buckingham Palace suggested that the coronation could bring in billions to the economy. But economists warn that any gains may be offset the cost of the public holiday. As three major royal events approach, concerns are growing about the expenses involved. The coronation, which is a state event, should paid for by the state, according to experts. While the King technically owns the £16.5 billion Crown Estate and the Duchy of Lancaster, he has no control over their management and profits handed over to the government in exchange for the Sovereign Grant.
As the cost of living crisis continues to hit hard, many Brits are understandably questioning the appropriateness of spending large sums of money on a glitzy coronation ceremony. While the pomp and ceremony may hold significant symbolic value for some. Others are calling for a more practical and grounded approach to national events. Especially in light of the economic struggles faced by many households. As the debate rages on, it is clear that the issue of spending priorities will remain a contentious one for some time to come. Ultimately, however, it will be up to the leaders of the country to determine. How best to balance the needs of the nation with the expectations of its citizens.
