The coronation of King Charles III will be bank holiday' for the UK, reports have claimed.
He will be crowned in a ceremony on June 3 next year at a service in Westminster Abbey in London, insiders have reported.
This means there will be a new bank holiday once the date is officially confirmed.
Officials, who were not named, revealed it would happen next June and the most likely date would be June 3 Bloomberg reported.
The date, however, was described as "purely speculation" by a Buckingham Palace spokesperson, Leicestershire Live reports.
If the coronation does fall on this date, it will be almost 70 years to the day after his late mother was crowned.
The event will form the centrepiece of days of celebration to mark the official beginning of King Charles III's reign, reports the Liverpool Echo.
By June next year the king will be 74, which makes him the oldest person to be crowned in British history.
As the coronation will be a state event, it means the UK could see an additional bank holiday added to its 2023 calendar.
It has been widely reported that the new king will have a "slimmed down" coronation, compared with that of his mother, amid the cost-of-living crisis.
Britain has not celebrated a coronation for 69 years. It was last when Elizabeth II became Queen.
King George VI died on February 6, 1952, but Elizabeth's coronation did not take place for another 17 months with her being anointed Queen on June 2, 1953.
The event is expected to be a large-scale celebration.
The Mirror reported yesterday how Tory Jacob Rees Mogg suggested the coronation should be a bank holiday, just like it was when the Queen was crowned.
The Business Secretary, who is responsible for bank holidays, told the Daily Telegraph: "The coronation is an important symbolic act with constitutional resonance about the stability of our system.
"To have a day off for that is perfectly reasonable, and the effect on growth will not be enormous".
Ministers have not yet started formal discussions about whether to make the day a bank holiday, however.
A government source said: “Whenever there’s a decision about a special bank holiday, there’s always a debate about the benefits versus the costs.
“I expect we would start making a decision on it in the next couple of weeks.”
The cost of extra bank holidays to the economy has long been disputed, but research by accountancy firms this year suggested it could be £800million.
UK GDP shrank by 0.6 per cent in June, in a move that was partly put down to an extra one-off bank holiday for Elizabeth II’s Platinum Jubilee.
Despite 150,000 people backing a petition, No10 has said there are "no plans" to institute a permanent annual bank holiday in honour of Elizabeth II.
