Should we commemorate the Lionesses with a bank holiday?
18 August 2023
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Education
Economics
Economic Theory
Julian Jessop quoted by iNews
IEA Economics Fellow Julian Jessop has been quoted by iNews in their piece discussing the economic impacts of a new bank holiday to celebrate the Lionesses’ potential World Cup win.
iNews wrote:
“Julian Jessop, Economic Fellow at the Institute of Economic Affairs (IEA), warned that an extra bank holiday this year could cost the UK economy up to £1bn.
“The idea of a snap Bank Holiday if the Lionesses win the World Cup may be popular, but it would carry a high price tag. The extra day off work would hit output and incomes, and disrupt public services, especially as employers would have little time to prepare.
“The value of the lost economic activity could easily top £1bn and that this would be an awful lot to spend to mark one sporting success. There will be plenty of opportunities for people to celebrate on Sunday if the result goes the right way.”
You can read the full article here.
iNews wrote:
“Julian Jessop, Economic Fellow at the Institute of Economic Affairs (IEA), warned that an extra bank holiday this year could cost the UK economy up to £1bn.
“The idea of a snap Bank Holiday if the Lionesses win the World Cup may be popular, but it would carry a high price tag. The extra day off work would hit output and incomes, and disrupt public services, especially as employers would have little time to prepare.
“The value of the lost economic activity could easily top £1bn and that this would be an awful lot to spend to mark one sporting success. There will be plenty of opportunities for people to celebrate on Sunday if the result goes the right way.”
You can read the full article here.
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