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King Charles III Coronation: 100 Million Reasons He Should Pay The Ceremony Himself
In a year of record-setting inflation and price hikes in cost-of-living expenses, The United Kingdom (U.K) prepares the coronation of King Charles III on May 6, 2023. According to a Loopex Digital, the ceremony is expected to cost £100 million ($125 million).
The last ceremony that took place was Queen Elizabeth’s Coronation back in 1953. The estimated cost of her ceremony (adjusted for inflation today) was £46 million ($57 million). It is without a doubt a controversial decision to proceed with the coronation knowing fully well the struggles of British citizens and the costly war between the Ukraine and Russia.
There are far more important ways to invest money on public services and essential sectors instead of a lavish-not to mention an extravagant event.
In the next section, I will break down how the funds can be allocated elsewhere by referencing Loopex Digital’s experts that analyzed U.K. social issues.
Using The £100 Million For Energy Bills, Teachers, Nurses, Businesses, Public Infrastructure
With the significant increase in energy prices, using the funds from the coronation could cover, and increase resources in many essential industries in the U.K. Here is the following breakdown of the £100 million:
Could cover the total energy bills of 39.962 medium-sized households in the UK
Pay raise of approximately 29,410 nurses/31,000 teachers and includes a 10 percent wage increase or one-time bonus
Approximately 2, 000 small businesses could benefit from low-interest loans £50.000 with a 2% interest rate.
The government could perhaps repair up to 2,000 miles of local roads and expand public transportation budget.
Infrastructure investments would create around 1800 jobs.
