The Prime Minister is “carefully considering” plans for a bank holiday to mark the King’s coronation.
King Charles will be crowned on Saturday May 6 next year alongside Queen Consort, Camilla.
Asked if the Government would approve an extra day public day off when King Charles III for the occasion, the PM’s official spokesman said: "Obviously this will be a historic event, watched and celebrated by millions across the country.
“We are carefully considering plans now that the palaces confirmed the date."
He added: "All options remain on the table."
Jacob Rees-Mogg has backed calls for a bank holiday .
The Business Secretary said it would be “appropriate” to celebrate the “splendid, historic” occasion.
Mr Rees-Mogg told the BBC: “I think that having a bank holiday for a coronation seems to me the eminently suitable thing to do.
“But there is a process that has to be gone through and it has to be approved ultimately by the Privy Council.”
The coronation will take place in Westminster Abbey, eight months after the monarch’s accession and the death of the Queen.
Coronations have not traditionally been held on a weekend, with the late Queen’s taking place on a Tuesday.
A number of MPs have reportedly called for the May 1 bank holiday to be pushed back until Monday May 8 to give the country a long weekend.
However, local elections are going on across large parts of the country on May 4, meaning large numbers of council staff will be counting votes on May 5 and possibly into the weekend.
The Palace said the ceremony will be “rooted in longstanding traditions and pageantry” but also “reflect the monarch’s role today and look towards the future”.
Charles III 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.
May 6 is also the birthday of the Duke and Duchess of Sussex’s son Archie – Charles’s grandson – who will be turning four on the day.
Guest lists have yet to be confirmed for the spectacle, including whether or not Harry and Meghan will be invited or be able to travel from California to attend.
The date was also the wedding anniversary of the late Queen’s sister Princess Margaret, while the King’s grandfather George VI held his coronation in the month of May.
The Palace said the date was chosen in consultation with the Government, the Church of England and the Royal Household, but no further details have been given on why it was picked.
“Buckingham Palace is pleased to announce that the coronation of His Majesty The King will take place on Saturday 6th May 2023,” the Palace said.
“The coronation ceremony will take place at Westminster Abbey, London, and will be conducted by the Archbishop of Canterbury.
“The ceremony will see His Majesty King Charles III crowned alongside the Queen Consort.
“The coronation will reflect the monarch’s role today and look towards the future, while being rooted in longstanding traditions and pageantry.”
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.
Charles’s coronation is expected to be on a smaller scale and shorter, with suggestions that it could last just one hour rather than over three.
It is expected to be more inclusive of multi-faith Britain than past coronations but will be an Anglican service.
Guest numbers will be reduced from 8,000 to around 2,000, with peers expected to wear suits and dresses instead of ceremonial robes, and a number of rituals, such as the presentation of gold ingots, axed.
Further details are due to be released in due course, but the Government and the royal household will be conscious of the scale of the event in light of the cost-of-living crisis facing the country.
The late Queen’s coronation took place on June 2 1953 – 16 months after she became monarch, and there had been speculation Charles would opt for a June date close to or even on the 70th anniversary of his mother’s ceremony.
