I am in no way a royalist, nor am I a hater of the monarchy. I simply pay no attention to the affairs of the Royal family, however over the past few weeks, it has became increasingly difficult to do this, seeing as though every advert for every single product has somehow related itself with the jubilee. Tins of beans and boxes of cornflakes are emblazoned with the Union Jack, every newspaper offers free British memorabilia and if you're not careful then you may find yourself hanging by the neck due to the miles of bunting that seem to be strung about as far as the eye can see.
Now for me, the jubilee is a marvellous occasion! Not only do I get two days off to lounge about and gouge myself on junk food, but I get paid to do it! I live for bank holidays, they provide a glimmer of hope during those endless days stuck in the office and a two day bank holiday is twice as nice. It leaves only three working days until the next weekend. However, it does make you wonder what effect these two days must be having on the economy.
Granted, the boost in tourism is sure to bring in mush needed revenue, but the closure of most businesses and the £32 million cost of the jubilee is surely damaging to the economy. The effects won't be clear until it is over but the Department for Culture, Media and Sports have estimated that there will be a £1.2 billion loss to the economy due to the extra bank holiday, and that's a lot of moolah. Overall it is estimated that the extra day, devoted to the Queen having a good 'ol wave 'could reduce GDP by 0.5%.'
So, although this two day bank holiday seemed great when you were drinking your weight in alcohol and running around with your 2D Queen mask on, in the long run, it could just be the reason why we cannot get out of this goddamn recession.
