King Charles’s Coronation was smaller and shorter than the late Queen Elizabeth’s, as the monarch was mindful of the cost of living crisis affecting millions in Britain.

King Charles’s Coronation cost £72million (Image: Getty)

Taxpayers spent £72million on King Charles’s Coronation last May – less than half that of the funeral of Queen Elizabeth, according to official Government figures.

Over a third of the cost – £21.7 million – was spent by the Home Office on policing the event, which saw tens of thousands of people gather in central London to catch a glimpse of the lavish display of pomp and ceremony.

In the UK, 18 million more people tuned in to watch the event unfold on their TVs, with viewing peaking at 20.4 million as the King was crowned just after midday.

The remaining £50.3 million was spent by the DCMS, funded by the Treasury, according to the annual report by the Culture Department (DCMS), which was responsible for organising the Coronation.

The Coronation took place on May 6, 2023 and was a huge state occasion. World leaders, politicians and foreign royals attend the once-in-a-generation event, held at Westminster Abbey in London.

The cost of the historic royal event is just a fraction of the amount spent on Queen Elizabeth’s state funeral and related events in 2022, which came in at £162million.

The King was mindful to have a smaller and shorter ceremony amid the cost of living crisis, with a royal source said the 76-year-old monarch was “conscious of costs” and plans for the event “were scaled back”. But due to it being a historic state occasion balance was needed to reflect the grandeur and global significance of the event.

The DCMS described the Coronation as “a once-in-a-generation moment which provided an occasion for the entire country to come together in celebration, and offered a unique opportunity to celebrate and strengthen our national identity and showcase the UK to the world”.

The department said the event had generated more than 100,000 news stories and reached an estimated global audience of 2 billion people in 125 countries

King Charles’s Coronation took place last May (Image: Getty)

King Charles and Queen Camilla were crowned last May (Image: Getty)

The King’s Coronation took place over a long bank holiday weekend and brought a huge boost to the hospitality industry as revellers flocked to pubs, restaurants and cafes to celebrate the crowning of the new monarch.

Ahead of the event, the Daily Express revealed the Coronation was expected to provide a boost of up to £1bn to the UK economy, due to increased revenues from tourism and hospitality.

The Coronation Big Lunch took place the day after the crowning, with the DCMS stating it was celebrated by 1 in 5 people in the UK and raised £14.4million for charity.

Sunday culminated with the Coronation Concert at Windsor Castle, which was attended by 20,000 people.

The Coronation celebrations ended on Monday with The Big Help Out, a day dedicated to supporting good causes to showcase ‘the nation in service’.

A DCMS spokesman said: “In line with rules regulating the spending of taxpayers money, all efforts were made to keep costs to a minimum.”

Over 6 million people took part by volunteering and attending an event or informally in their communities – including the Prince and Princess of Wales and their three children.