Coronation boost to the economy

[misssunshine4040]

AIBU to think that even you have the royals, the boost to the economy the coronation will bring is worth it?
Although the cost of the coronation is huge, the revenue expected to be brought in is estimated at over £1 billion

You don’t have to pay your staff for this extra holiday

Possibly a touch naive OP. It doesn't grow the economy.
@midgemadgemodge has basically hit the nail on the dead. Money gets spent on plastic tat imported from china with the kings crest on it, ends in landfill in 3 months or on ebay at inflated prices (never selling) in 2 years time and that money then doesn't get spent on more important things to the economy.
As for tourists and the royals in general, all the palaces and castles would remain, the family would still retain a lot of "clout" and tourism would not likely be impacted at all, look at Paris vs London.

But it still won't benefit the people. Nothing will change for the better.

I don't think there's any proof that tourists come especially for the royals. In fact we might even get more if we didn't have them, as in France.

So public investment for private gain?

T'rific. Under the public spending rules I work under, that's not allowed.

Fair point

You're out of your fucking mind if you think "we" benefit from this.

The cost to the economy from the bank holiday alone is vast - approaching £1bn by most estimates - and there's no evidence, ever, of a net economic boost from such an event.

If you seriously think that the economy benefits from a bank holiday you need to think harder. If it was the case we'd be having dozens of them!

All BHs do is pile the pressure on the economy by making average productivity - which is already shocking in the UK - even worse.

R5Live Wake up to Money, the employers on there (who make things or do services) have been wincing about the coronation, saying it will cost them money/lose them profits.

I am not saying Coronation shouldn't happen, I reckon the extra bank holiday is tremendously popular on whole.

Bank Holidays help certain sectors but damage the economy overall. Each one comes with an aggregate cost of about £2.5 billion.

I suppose the UK needs the tourists since the cost of living here is now so outrageous that no one has any money to spend to boost the economy. Those that do tend to spend their money abroad.

@KeyanSt

If you're a freelancer or zero hours contract you don't get paid!

Brand finance estimated the royal contribution union to tourism at £556m a year so the idea one event makes £1bn is outlandish.

In the scheme of £22bn a year from tourism their contribution is peanuts. Also impossible to say how much would stop if we lost the monarchy.

The palaces and jewels etc would be more accessible if anything.

I haven't watched the coronation but have just caught a glimpse on catch up on the TV.

If we have to have a monarch then Charles is OK. However, I can't get over the absolute obscenity of people cheering a man and his wife in a golden carriage whilst kids are starving!

Theyre just easy targets for that argument aren't they.
If they weren't there would the government or their replacement head of state be be putting food in those children's mouths? Nope and the government could im sure do it now if they wanted to

The RF family barely being in any money to the U.K. actually, this is just an argument mad royalists use.

Nothing on the planet will excuse the expense this has cost when children are literally dying from starvation down the fucking road. Completely vile practice. Anyone that supports them should be highly ashamed.

@Figgygal

If you think it's appropriate then unfortunately that says more about you than it does me!

Agree. When people say the 'economy' they mean England and London.

If I have money, I can choose to spend it or save it.

If I spend it on going to a hotel in London, then I am either not spending it on something else, or I am using my savings.

I guess it's a boost if I I use my savings.

But if I just spend it on 1 thing instead of another, how does that help the economy?

I've always wondered about this. We get told how many billion these celebrations make, yet when there's a snow day they quote billions of cost from economic inactivity and disruption.

Lies damn lies and statistics.

I checked the cost of the London hotel we normally stay at.

It was £100 tonight (Coronation date) - it is normally £150 - £200+ on a Saturday night.

Its not the royals fault children are hungry in this country is it?
Money should be spent addressing it - it could have been - the government could still find that money regardless of the coronation they dont and that's not the fault of the royals
In the same way more money could be spent on the NHS, social care etc etc but it's not the royals stopping it from happening

YABVVVVVU.

The tourism myth has been disproven time and time again (not that royalists take any notice of course).

And each bank holiday costs the economy around £3.09b in lost productivity so we'll just be the £2,000,000,000 out of pocket for this one.

So I read somewhere today that a particular council ear marked £50'000 from other places,mainly food bank contributions and local needs to use for the celebrations.

When the country has made a fortune from the so called tourism of it will the councils then be getting back their £50'000 plus to put back where it was taken from?

The best comment I've read today is upthread

A load of billionaires playing dress up for the day when many people can't even afford to eat.

Fucking disgrace

You should really learn about how the economy works before making embarrassing statements like this.

It's not embarrassing

A few people getting richer isn't benefitting anyone else

The scarps from the greedy masters table a benefit ? We should be grateful for ?