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The Queen’s Platinum Jubilee is fast approaching and people are now keen to have the bank holiday tradition made permanent.
Come June, we’re all looking forward to a lively four-day weekend, with pubs and bars extending their opening hours for the occasion.
Brits will come together from 2 - 5 June to commemorate Her Majesty’s Jubilee – marking 70 years on the throne.
Now, a group of business leaders have joined forces to urge the Prime Minister to make the bank holiday permanent.
In an open letter to Boris Johnson and Chancellor Rishi Sunak, the CBI, UK Hospitality and a number of well-known brands suggest the permanent bank holiday would provide an opportunity to honour the monarchy and public service.
They are aptly naming the occasion a ‘thank holiday’, which would also provide a much-needed economic boost for businesses during the fallout from the Covid-19 pandemic.
Proponents of the permanent bank holiday suggest it would ‘provide a moment every year for individuals and communities to come together, to thank those who have contributed in ways big and small to making our country a better place to live’.
Dragon’s Den star Deborah Meaden is heading up the campaign with support from the bosses of Siemens, Iceland and Punch Pubs and the chairman of the Campaign for Real Ale.
Meaden said the move would provide ‘the country with a social and economic stimulus we need after a difficult few years’.
Sunak has agreed to review the proposal, according to the PA Media news agency.
New research by PwC claims that the government’s existing figures have overestimated the potential cost of a new bank holiday by 64 percent. They found the estimated cost to be around £831 million.
The researchers suggested that the social positives have been largely overlooked by the government, as well as the economic benefit to retail and hospitality sectors which have been badly affected during the pandemic.
The research also claims that any knock-on costs would actually be lower if the new bank holiday remained on a Friday due to how people’s working hours usually fall week-by-week.
So, is the suggestion of a new bank holiday even possible?
Well, bank holidays can be sanctioned the Queen, who acts on government advice, or under the Banking and Financial Dealings Act 1971.
The government Department of Business, Energy and Industrial Strategy is responsible for the dealings of bank holidays.
So, the possibility of a permanent Jubilee bank holiday is certainly possible – here’s hoping!
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