Elizabeth II: Her platinum jubilee brought down the UK economy

Last June, the British celebrated the 70th anniversary of Queen Elizabeth II’s reign for four days. While this event united the country, it also had the effect of depressing the country’s economy BFM TV.

After the party, it’s time to take stock. From June 2 to 5, England celebrated the Queen’s Platinum Jubilee. It marks the king’s 70-year reign. No British monarch had reigned until Elizabeth II, who ascended the throne on February 6, 1952 at the age of 25. Prince Harry and his wife Meghan also traveled. It will be the couple’s first royal appearance in the UK since moving to California two years ago. If Elizabeth II misses the end of the festivities due to her health, However, he insisted on appearing on the balcony of Buckingham Palace before the festivities ended. The queen also wanted to send a message of thanks, according to the account royal family In social networks. “I was humbled and deeply touched that so many people took to the streets to celebrate my platinum anniversary”His Majesty wrote.

Slow economy

But if the Queen’s Jubilee One weekend brought the country together, which also had the adverse effect of slowing down the country’s economy. According to information from BFM TVIn June alone, the country’s GDP shrank 0.6% Due to reduced activity during the Queen’s Jubilee celebrations. Statistics confirmed by the Office for National Statistics (ONS). In fact, two public holidays have been introduced across the Channel for Brits to take full advantage of the event. Due to this, economic activity slowed down for two days. As pointed out by the economist, a harmful effect with the sharp rise in the country’s electricity bills Albesh Baleja. However, the negative impact of the festivities was offset by sales of derivative products bearing the image of the royal family. According to statistics from Center for Retail ResearchThe British spent 356 million euros During this four-day bridge.