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The upcoming coronation of King Charles III is set to take place at Westminster Abbey in London on Saturday, May 6, and faces criticism as the UK struggles with soaring living costs.

As a state function, the event is traditionally financed mostly by parliament, using taxpayers’ money.

While Buckingham Palace has not yet announced an official figure for the coronation’s cost, widespread speculation, and reports suggest it will be between £50-£100 million ($66-$132 million).

If accurate, this would make it the most expensive British coronation in at least the past 200 years. Euronews attributes the significantly higher price tag to the added costs of security.

Data compiled by UK news site inews reveals the relative costs of past coronations. George VI had the second most expensive coronation, costing £454,000 in 1937, which amounts to £24.8 million ($33 million) when accounting for today’s inflation.

Queen Elizabeth II’s coronation, according to inews, cost £912,000 in 1953, equivalent to £20.5 million ($27 million) today.

With the country grappling with a cost of living crisis marked by soaring food and energy prices, should this money be spent in another way?

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