How much will King Charles's coronation cost?

The day of the King's coronation has arrived as crowds gather in London and millions more tune in to see Charles crowned at Westminster Abbey alongside Queen Camilla.

Several celebrities, including Katy Perry, Emma Thompson and Stephen Fry, have already arrived at the church, which hosted the UK's last coronation of Queen Elizabeth II in June 1953.

The three-day celebration has caused a backlash, with 52 per cent of Londoners saying they did not believe taxpayers should fund the event. A further 18 per cent were undecided.

One person told the BBC: "We're struggling for heating and eating and they're splashing all this money out. It is a lot of money to pay out and I think, in this day and age, they need to do it on a low budget."

Meanwhile, another believed the country should "go for it" if it brings something to the economy.

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Despite rumours of being a "slimmed down" celebration due to the current climate, the coronation reportedly costs £50-100 million ($63-125 million).

The Department for Digital, Culture, Media and Sport (DCMS) told the outlet they were "unable to give costs, or a breakdown of funding" until the event is over.

That said, James Watkins, London Chamber of Commerce and Industry's (LCCI) head of policy, believes the coronation will create a "massive boost" for the economy.

"Anything that hits that reputation is bad news, and now we have a major global event that the whole world wants to see and that is good for the bottom line for the business community and the jobs dependent on those businesses," he told the publication.

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