What is the Economic Impact of the Royal Wedding to Britain's Taxpayers?
Every woman would love to have a royal wedding but simply can never afford it in this lifetime. Well Kate Middleton is getting one at the expense of the taxpayers of Great Britain. How much will this cost them?
Mr. and Mrs. Middleton won’t have to pay for their daughter’s wedding. This is great news because their daughter is getting married to a Prince and having a royal wedding. The couple is advising they are having a simple wedding that won’t cost the taxpayers that much. However, what you and I consider a simple wedding is certainly not what the royal family considers a simple, basic affair.
Royal weddings no matter how small and simple don’t come cheap. The quiet low key wedding of Charles and Camilla cost British taxpayers $5 million. Conservative estimates of the nuptials of this royal affair are estimating at least $50 million American dollars. On the top end of things you can estimate $100 million. That costs is minus the rock Kate is wearing on her hand
Prince William wants it to be held at Westminster Abbey in honor of his mother. Kate’s parents have admitted they are donating to the event but won’t disclose the amount of money they will be throwing in the pot. I suppose they will cover the costs of the flowers are something similar.
The press is indicating that Charles is footing the bill and grandma will throw the reception in Buckingham Palace to reduce costs. However, Prince Charles and his mother are spending the UK taxpayer’s money.
When Lady Dianna married Prince Charles in 1981 the cost was $30 million. That was 30 years ago. With inflation and the global economy not performing well, the estimated cost of this royal wedding could be anybody’s guess.
The bulk of the bill will be for security costs. The country is on high terror alert during the affair with security more than the G20 Summit meeting. One estimate is security will be approximately $20 million.
Many taxpayers are asking if the entire affair is worth it. All of the “pomp and circumstance” is being seen by the world and tourism will spike. Many people from around the world will want to be in the country for the wedding of the century. There are those that simply want a piece of the fairytale that they can never have.
The couple can pack 2,000 guests into Westminster Abbey and heads of state are on the list, but the couple admitted they are not on the top. William is requesting that a lot of the familiar faces of those that worked with his mother on her charities would be invited and he would enjoy seeing their faces more. Surprisingly he is sending an invitation to a teen homeless shelter located in London that he worked with last year.
For those that are pro-wedding regardless of the costs, they are advising the spike in tourism will leave a sweet taste in the taxpayer’s mouth. They are advising that visitors can spend up to $600 million during the event. If the country can make $600 million on a $50 million investment, we may need to have a royal wedding ourselves here in America.