Prince Harry and Megan Markle’s wedding security costs could “dwarf” William and Kate’s

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Prince Harry and Megan Markle’s wedding security costs could “dwarf” William and Kate’s

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Author Lauren Howells

Less than 24 hours ago, Prince Harry and Megan Markle announced that they are to marry next spring in what promises to be another magnificent royal wedding.

Since then, news channels around the world have been buzzing with images of the happy couple and speculation surrounding exactly where and when the latest royal wedding will take place.

Security alone could cost more than £20 million

There has also been much conjecture regarding the potential cost of the wedding, with many expecting the security alone to cost more than £20 million.

Prince Harry royal wedding

By Suzanne Plunkett [CC BY 2.0], via Wikimedia Commons

The security for Kate and William’s wedding, back in 2011, was estimated to cost as much as £20 million and with MI5 reportedly warning back in October that terrorists are planning attacks on Britain with “unprecedented pace and determination”, a reduction in the amount of money spent on security for the latest royal wedding seems unlikely.

Security costs may be picked up by the taxpayer

Security costs, plus any street cleaning, are likely to be picked up by the taxpayer, as was reportedly the case for William and Kate’s wedding.

The cost of the wedding itself could also be pretty eye-watering.

One wedding planner told CNN that she couldn’t imagine that Harry and Meghan would be able to get the wedding that they wanted for anything less than £500,000.

It’s likely to be Prince Charles who pays for most of the wedding itself

Although tradition dictates that it is the bride’s family who would normally pick up the bulk of the bill, experts expect this not to be the case for Harry and Meghan.

Prince Charles and the Queen reportedly paid for most of William and Kate’s wedding but Kate’s family were also said to have contributed.

Meghan Markle royal wedding

By Genevievederivative work: Firebrace (DSC_3441) [CC BY 2.0], via Wikimedia Commons

Another UK bank holiday? It’s not looking good…

As soon as Harry and Meghan announced their intention to marry, social media was filled with the chatter of the possibility of another UK bank holiday. For those who had hoped for an extra day off to enjoy the spring sunshine with family and friends, prepare to be disappointed. The Independent later reported that Downing Street had announced that there would not be a national holiday to mark the latest royal wedding.

“Gloomy outlook” for UK economy could explain why…

But maybe that’s a good thing. Research undertaken by Centre for Economics and Business Research (CEBR) back in 2012, found that on average, a bank holiday costs the UK economy £2.3 billion in lost economic output and that in years when there is a ‘one-off’ bank holiday, for a royal wedding, for example, economic growth was found to be adversely affected.

Recent reports regarding the “gloomy outlook” for the UK economy may well explain why Downing Street do not want another bank holiday next spring.

By | 2018-12-14T09:33:56+00:00 November 28th, 2017|Economy|0 Comments

About the Author:

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After completing her law degree, Lauren decided to follow her passion for writing. She regularly contributes articles to CLNews on personal finance and general consumer topics.