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Jubilee weekend: how will you spend it?

1st Jun 2012
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Opinions are divided over the economic effects of the extra day off on Tuesday, so Robert Lovell wants to find out how you plan on spending the extended weekend - and whether you think it will have a positive or negative effect on the economy.

While the controversy continues about how the Jubilee will will affect the economy, we thought an informal straw poll of AccountingWEB members' weekend plans could help us to extrapolate the economic consequences. What are you going to be doing over the long weekend, and do you think your Jubilee activities will make a net contribution or reduction to GDP?

On the plus side, there’s likely to be an uptake in booze, BBQ and shopping sales - as long as the weather stays fine. But will these indulgences make up for the estimated £2.3bn worth of lost output?

Or, with the London Olympics around the corner is all the fuss about this one-off celebration “absolute nonsense” as one AccountingWEB member noted?

Remember that even with the extra day, this year we will have just nine bank holidays - that still falls below the 10 to 12 that is the international norm.

Members were quick to vent their frustration on the topic, with some pointing out there was no "additional" day off because many business owners will still be at work. And the extra leap year day on 29 February cancels out the Jubilee holiday.

InflatableBassPlayer questioned one of the “five key opportunities” on the beneficial retail effects of buying British, since most of proceeds from Union flag-related sales are likely to end up in the Far East.

Another AccountingWEB argued that the Jubilee event will sell the “the pomp and circumstance of Britain” around the globe in a way that nothing else can.

Finally a couple of members asked where the clamour was from the Bank of England, economists and government to cancel the Christmas and New Year's Day holidays? Scrap the Jubilee, then why not Christmas too for the benefit of the economy?

The likely 12-day break in UK production over this period led another to conclude “I've cancelled Christmas”.

However, as John Kay concluded in a recent FT article about the Jubilee: “What really matters is whether the holiday, and the celebration, makes us better off. That question answers itself without need of economic statistics.”


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Replies (12)

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By normafogg21
01st Jun 2012 12:27

Only 9?
Forgive me for being pedantic, but anyone who has a holiday year that runs from 1st April to 31st March will have 10 Bank Holidays in this holiday year (have a look at the date of next Good Friday).

It won't affect me though, because it's payday next week, and I must be here to pay the salaries.

Do I think it will boost the economy/add to the burden? Probably both, depending on which angle you view it from.

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By Katmandu
01st Jun 2012 13:49

I'm skipping the country

I'm planning to hop across the channel this weekend.  Street and garden parties are all very well for those who enjoy that sort of thing, but I don't happen to be one of them so rather than stay at home and moan we're off for a weekend in France.  It's not that I'm not proud to be British because I am, but rather that I don't want to have to fight for a parking space in my street and be forced into joining in celebrations for an occasion about which I feel largely indifferent.

Overall, I can't see how the number of bank holidays we have has a huge effect on GDP.  In small businesses, if something needs to be done, it needs to be done regardless of the number of bank holidays and when they fall.  With the ever increasing opening hours for shops and pubs, the introduction of flexible working for so many businesses and the amount of business that is done over the internet, I think that although it may still be a little way off yet, we are moving towards a 24/7 society which eventually will cease to recognise bank holidays and weekends..... So I fully intend to make the most of mine while I still can and would encourage everyone else to do the same, however they chose to spend their time off! 

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By listerramjet
01st Jun 2012 14:01

its also half term week

and all that lovely sunshine will probably just be a damp memory, but its a week on the farm and the beach with the children for me.

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By Ann Lovatt
01st Jun 2012 14:22

Cub camp & Jubilee Beacon for me!

As our house is a Scouting & Guiding house we have a very busy weekend, other members of my faimly are all at cub camp Friday to Sunday rolling into scout camp for two days, which will include building and running the village Jubilee Beacon on top of Caergwrle Castle, so I will be on call for running around for bits they forgot!

I have been excused camp as I've not long done Brownie pack holiday and am off to an all Wales Guide camp (a 1000 teenger girls just imagine the hormones!) in a couple of weeks and need to prep. I may also be ropped into doing a stint at the local hospital shop with my Mum as her usual assistant is away.

O yeah & I also have Ranger Tea party this evening in my house, a Prom dress to finish, Brownie & Ranger accounts to update. I will need a holiday me thinks after this weekend..........any more bank hols coming up soon?



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By mn2taxhbj
01st Jun 2012 14:31

Bah humbug

I'm going to be working Monday and Tuesday - taking advantage of the reduced congestion for a long lie. Not expecting any disruption from telephone calls so expecting output to be higher than the normal working day!

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By Cloudcounter
01st Jun 2012 16:07

Bah humbug II

I shall be working normally and avoiding TV at all costs.  The coverage is vomit inducingly sycophantic and will of course be completely OTT.  This "major achievement" is based solely on having a father die 60 years ago, and then managing not to die oneself for the next 60 years.  How hard is that?


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By MarionMorrison
01st Jun 2012 21:28

Bring the Republic!

I'm with Cloudcounter.  I did consider pointing the speakers outside and giving the neighbours an endless rendition of The People's Flag is Deepest Red.but fortunately we have two family birthdays to celebrate and so will have other things on.

The whole palaver is another promotion of a deferential society where some people are thought better than others, more deserving of praise for their putting in of 60 years work in the same job.  Not a unique achievement and I only hope when I've been running my practice that long, I'll get a Red Arrows flypast.  Or maybe not.

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By Flash Gordon
02nd Jun 2012 08:03

Avoiding the neighbours

If it's sunny I'll be in the garden with a book avoiding the neighbours and their street party. If it's miserable I'll be on the sofa with a book avoiding the neighbours and their street party. I don't mind them having their party but as I detest social events with more than me and one other person with a vengeance the thought of summoning up the courage to walk out of my front door and talk to a load of complete strangers is way beyond me.

I'm a fan of the Queen and have slightly come round to the idea of Charles not being a complete numpty but the rest of them you could dispose of in my books. Things were different when the Queen started out but times have changed and I don't think we need the air of entitlement that the younger ones (and I'm including the Queen's kids) seem to have. Let's make Anne the next monarch and then call it a day.

How many times do you think the cameras will be focussing on WaityDolittle over the weekend and not on the person that this is supposed to be about? 

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By ShirleyM
02nd Jun 2012 08:23

I like to watch the horses :)

I think Britain tops the whole world when it comes to pageantry, parades, marches and the whole royal rigmarole, but am undecided whether it's worth the cost.

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Out of my mind
By runningmate
02nd Jun 2012 10:53

Patriotic, moi?

I have to say that if someone described me as patriotic I would not consider it to be a compliment.  (Nor would I if someone described me as an Arsenal supporter and that's about the same thing isn't it?)

I believe George W Bush said, 'The great thing about books is that some of them have lovely pictures in them' - or something along those lines.  Rather in the same vein, the great thing about Great Britain is that we do not have many national flags flying in the country - for example not in our schools or government buildings most of the time.  We do not spend our time mumbling meaningless oaths of allegiance or reciting our love for our country - and a jolly good thing too.

But if we didn't have the Queen we would have to have something else and I rather think we would end up with something far worse.

So I will be raising a glass (or two) to you Ma'am on Tuesday!


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By ralan
03rd Jun 2012 12:50

canal cruise

Well I have had a quiet two days because this afternoon i go to take over as Master on our District Canal Boat bringing 8 scouts back by Tuesday.

4mph max on the canals is a great way to relax after the office.


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By memyself-eye
05th Jun 2012 19:17

I put up a small union flag

But only today - cos it's my son's birthday (23) and he still has not left home. Note: it's not a "union Jack" which can only be flown from the Jack staff (the one sticking out from the transom at the back end) of a ship with 'HMS' in front of it's name.

I do own six 4 metre flag poles which I should have bolted to the house to fly the union flag from, but have not- I am after all of Irish descent.    I may put them on Ebay.

Either way, here's to you m'am

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