It is understood that King Charles will not grant Brits an extra bank holiday on the day of his coronation.
Today (October 11) Buckingham Palace confirmed that the King would be crowned on Saturday, May 6 next year at Westminster Abbey.
Organisers expect special events to be held across the country and thousands of people to flock to London to witness the historic event.
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However, ministers have agreed it is "highly unlikely" there will be any extra time off, reports the Mirror.
Discussions with the government have taken into account a range of factors including clashes with sporting events, the availability of Westminster Abbey and the Archbishop of Canterbury and even the likelihood of favourable weather conditions.
May 6 falls in a month of two bank holidays – May Day on the first as well as May 29.
The idea of moving the May Day bank holiday to May 8 was floated, but government sources have suggested this would "cause chaos" for businesses.
Royal sources said the King has personally approved plans for a "slimmed down celebration" as he is acutely aware of the cost of living crisis enveloping the country.
The Mirror reports that the ceremony will be "around 90 minutes long" and will "look and feel very different" to the Queen’s coronation in 1953.
The Palace said the ceremony will be "rooted in long-standing traditions and pageantry" but also "reflect the monarch's role today and look towards the future".
The King will be anointed with holy oil, receive the orb, coronation ring and sceptre, be crowned with the majestic St Edward's Crown and blessed during the historic ceremony.
Camilla will also be anointed with holy oil and crowned, just like the Queen Mother was when she was crowned Queen in 1937.
It is understood that the ceremony will include the same core elements of the traditional service, which has retained a similar structure for more than 1,000 years, while also recognising the spirit of our times.
The guest list for the ceremony will also be slashed from 8,000 to 2,000, with hundreds of nobles and parliamentarians missing out.
Discussions have been held about a more relaxed dress code, with peers possibly allowed to wear lounge suits instead of ceremonial robes.
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Ancient and time-consuming rituals – including presenting the monarch with gold ingots – will reportedly be axed to save time, while the heir, Prince William is likely to play an important role in helping to plan the ceremony.
The King's coronation also falls on the birthday of the Duke and Duchess of Sussex's son Archie who turns four on May 6 next year.
It has not yet been confirmed who will attend the ceremony and whether or not Harry and Meghan will be among those invited, or whether they will be able to attend since it will be their eldest child's birthday.
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