King Charles III is due to be coronated on Saturday 6 May - the first weekend coronation in over a century.
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Due to the date falling on a weekend, it was assumed that there wouldn't be a new bank holiday to mark the event. However, the government has now confirmed that there will be a bank holiday, and it will be held on Monday 8 May, two days after the coronation. The day is intended for families and communities across the UK to come together and celebrate.
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The announcement from Downing Street came after calls from backbench Conservative MPs for the bank holiday scheduled on 1 May to be moved to mark the weekend, or for an extra bank holiday.
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Prime Minister Rishi Sunak said: "The coronation of a new monarch is a unique moment for our country. In recognition of this historic occasion, I am pleased to announce an additional bank holiday for the whole United Kingdom next year."
He added: "I look forward to seeing people come together to celebrate and pay tribute to King Charles III by taking part in local and national events across the country in his honour."
The coronation of King Charles III will be an Anglican service, carried out by the Archbishop of Canterbury.
Charles was proclaimed King earlier this year
King Charles' coronation will involve six basic stages: the recognition, the oath, the anointing, the investiture, the enthronement, and the homage. At the heart of the coronation is the anointing with holy oil.
King Charles III will wear St Edward's Crown at the end of the coronation ceremony.
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The crown was made in 1661 and once belonged to Edward the Confessor. It is remarkably heavy and is made of solid gold. It currently resides in the Crown Jewels collection at the Tower of London.
The day of the coronation also has another special meaning, as it will coincide with the fourth birthday of the King's grandson, Archie Mountbatten-Windsor.