The King is reportedly planning a coronation ceremony that would be "shorter, smaller and less expensive" amid Britain’s cost of living crisis.
King Charles also plans a “slimmed down” monarchy, with the number of working royals cut to seven, a source told the Daily Mirror.
The move has strong public support, with 65% of those surveyed backing the idea, and just 7% against, according to a poll commissioned by the Daily Express.
A date for a coronation ceremony has not yet been announced, but May and June 2023 are possibilities.
“He has already spoken of his wish to continue his mother’s legacy and this includes continuing to recognise what the people are experiencing day by day,” the royal source added.
The source added: “The King is very aware of the struggles felt by modern Britons so will see his wishes carried through that although his coronation ceremony should stay right and true to the long held traditions of the past, it should also be representative of a monarchy in a modern world.”
The remarkable life of the Queen remembered in our latest episode of What You Need To Know
The Queen’s death marks a huge moment of transition for members of the royal family as they take on new roles, titles and responsibilities.
The Express reports the number of working royals could be cut to seven, which it said would likely be the King, Queen Consort, Duke and Duchess of Cornwall and Cambridge, the Princess Royal, and the Earl and Countess of Wessex.
The paper’s survey of 2,351 Britons also found that reducing the cost of the monarchy was the public’s second biggest royal priority, after giving support to environmental issues.
The King is believed to have flown to Scotland on Tuesday with the Queen Consort to grieve privately, as the royal family continues its period of mourning for the late monarch.
King Charles decreed on September 9, the day after the Queen died following her 70-year reign, that a period of mourning would be observed until seven days after the funeral.
A diplomatic trip to France in a bid to build relations with Europe could be one of the new monarch's engagements, according to a report in The Daily Telegraph.
Queen Elizabeth II was laid to rest together with the Duke of Edinburgh on Monday evening in a private service attended by the King and the royal family, which followed her state funeral at Westminster Abbey and committal service in Windsor.
The stone contains, in list form, “George VI 1895-1952” and “Elizabeth 1900-2002” followed by a metal Garter Star, and then “Elizabeth II 1926-2022” and “Philip 1921-2021”.