Queen Elizabeth II has died at the age of 96 after reigning for 70 years. That makes her the longest-reigning monarch in British history. While people from around the world will join in mourning with the Royal Family, the Queen’s funeral will cost the United Kingdom billions of dollars.
Great Britain will mourn for at least 10 days following the Queen’s death on Sept. 8 with a number of memorial events to come. The Queen’s body will lie in state at Westminster Hall for four days so the public can pay respects. Her coffin will be accessible to the public for 23 hours per day before the funeral takes place at Westminster Abbey on Monday, Sept. 19.
A total of 2,000 specially invited guests will attend the funeral in person while millions will watch the proceedings on television.
The Cost Of Queen Elizabeth II’s Funeral
Buckingham Palace has spent years preparing for the Queen’s death and had two separate arrangements planned prior to her passing.
With the Queen dying at Balmoral Castle in Scotland, ‘Operation Unicorn’ will take place. If she had passed at Buckingham Palace, operation ‘London Bridge’ would have been the codename of the proceedings.
The exact financial cost of Queen Elizabeth II’s funeral proceedings will not be reported, but it will inevitably an expensive affair.
Princess Diana’s funeral cost the equivalent of $11.8 million in 1997. The funeral for Queen Mother Elizabeth cost over 5 million pounds in 2002. England is currently in the middle of a cost-of-living crisis. Given how grand and beloved Queen Elizabeth II was, it’s hard to imagine her funeral costing less than those of the past.
The Financial Impact Of Queen Elizabeth II’s Death
While her funeral will cost millions, the impact her passing has on the UK’s entire financial system is tremendously noteworthy.
The vast majority of businesses will close in the United Kingdom. The Premier League has postponed all of its games over the next three days, and the day of the funeral will be an official bank holiday for the whole of the UK. The country’s stock exchange will close for the second time in under two weeks as well.
With the bank holidays, funeral expenses, and the coronation of King Charles III, the Queen’s death will cost the UK economy billions of dollars.
Changes to many everyday things will occur in the months to come as well, costing the UK millions upon millions.
New British currency, with King Charles III’s portrait, will have to be printed and the Queen’s currency will be removed. Stamps, passports, and police uniforms will also have to be changed to reflect King Charles’ reign.
According to reports, the funeral and coronation will each cost gross domestic product an estimated 6 billion pounds when it’s all said and done.
Queen Elizabeth II’s funeral will likely be the biggest funeral in the world’s history. It will come with one of the biggest bills as well.