'C is for Coronation'
Yesterday Generation X to Generation Alpha observed the first British coronation of our lifetimes.
Many of us have watched Queen Elizabeth the Second's coronation and have heard many accounts of coronations previous; from King George V and King George VI . Culturally, the coronation showcased the rich tapestry of UK arts and service; The Abbey service reminiscence of memorable education services; being able to hear any works of Sir Andrew Lloyd Webber is always a privilege. We all did of course pause and avoid discussion of the very large gap that was always filled with Her Majesty Queen Elizabeth during ceremonies.
The royal.uk website states ' A coronation is a ceremony marking the formal investiture of a monarch with regal power'. Sky news noted an estimated 20 million people watched the coronation on tv*.
One point of interest was the Coronation timing during May. One would have thought the event would affect market price with the pound set to climb on the stock market. Of course, the markets were closed. We therefore note how the investiture of a monarch serves the economy and affects UK GDP. The ceremony itself was noted on the royal website as costing approximately £125 million pounds*. A coronation would bring in investment notably with tourism; which asks the question if the coronation were a summer date would weather and longer days possibly have bought more tourism along with increased spending of sterling currency and, possibly, virtual.
Investiture of a monarch with regal power should bring with it market value. We continue to observe the plan for future projections and timings of British business when investing in weekends such as this. The British landscape is in need of rapid advancement, progressive transformation. UK post covid events and entertainment is slowly filling with a hodgepodge of glamour, gaming and social media. With currency, cyber security and virtual theft overwhelming and continuing to grow, we are also in a time where AI is being pushed, and quite possibly a coronation can be considered a distraction for UK citizens from the real problems we all face. It would also pose questions for the institution and the monarchy alongside these AI systems. British citizens currently battle with the very real choices of a suitable governing representative from any of the political parties. Many remain unconvinced of the current candidates representing policies and values being questioned by all UK citizens ; cyber security, the right to privacy, a fair and just constabulary, online regulation, IP privacy, education bandwidth , literacy propaganda and above all; hope.
The coronation was a window into the British Empire in 2023 and the meticulous planning required for a monarch with regal power. The King is of age where the UK may forecast expenditure on another coronation in our generations lifetime. Another investment into the next quarter century and will continue to affect UK economy.
With so much change needed in every facet in the UK, will the monarchy institutions ceremony and trappings be able to convince its people that innovation and advancement in the UK is actually possible; In the two years since returning to the UK there is still much consideration for all problems regarding UK housing, education for children and future growth projections. Despite a celebration of the monarchy traditions, we continue battling a system trying to control progress and thus continue to further spiral into a flawed environment and economy. I continue to observe the UK's thoughts on regulation boards and readings on coronation organisers and institutions. Brand Finance, a brand valuation consultancy estimated The Crowns contribution of £1.77 billion pounds to the UK economy in 2017 through a combination of the Crown Estate revenues and indirect benefits for tourism, trade, media and the arts***. We look forward to learning how such profits will continue to support the British population. For start up biotech companies and SME's, there needs convincing that UK Institutions and investments in coronations would choose to treat British SMEs and entrepreneur's in the same way as investing in wildflower seeds; to be sown freely and trailing across the UK.
* Source: www.royal.uk
**Source: https://news.sky.com/story/the-ultimate-guide-to-the-kings-coronation-how-to-watch-timings-and-procession-route-12784163
***Source: https://www.aljazeera.com/economy/2023/5/2/how-much-does-the-british-royal-family-cost-its-complicated