King Charles III is crowned at Westminster Abbey in a quintessentially British display of pomp and pageantry this weekend, but the coronation falls against a challenging economic backdrop for the U.K. with many questioning the validity of the event. The service is largely ceremonial, following the 74-year-old king’s official accession to the throne on September 8, 2022, the day of Queen Elizabeth II’s death, but the expense of the weekend’s proceedings is expected to run to between £50 million and £100 million. The government, for its part, insists that the occasion will bring in millions for businesses, particularly the hard-hit retail, tourism and hospitality sectors.

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