POLL: Was the Platinum Jubilee worth all the expense?

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Over the Platinum Jubilee weekend, the UK celebrated with four days of festivities, which included Trooping the Colour, a Red Arrow flyover, a huge concert at Buckingham Palace, and a parade through the streets of London. But the weekend came at a time when inflation is at a 40-year high and is expected to rise to 10 percent and households struggle to pay rising energy bills.

In the 2021 budget, Chancellor Rishi Sunak set aside £28million to deliver “a major celebration for the UK”.

This helped fund the Queen’s Birthday Parade on Thursday, and Saturday evening’s Platinum Party and works out at around £1 per household.

Local councils have also spent money on events including beacon lighting on Thursday evening and street parties.

Sunday’s Jubilee Pageant – estimated to cost £15million – was funded by The Platinum Jubilee Pageant Ltd, which has been “independently fundraising to deliver the pageant at no cost to the taxpayer”.

The National Lottery has also contributed £22million to support activities to “bring people together” over the Jubilee, although this money will also be used for events other than over the weekend.

Ahead of the celebration, the Centre for Retail Research expects celebrants to spend over £400million.

And VisitBritain reported that the Jubilee could bring a much-needed  £1.2billion boost to the UK economy. 

However, based on research of the last two jubilee celebrations, the events may cost the economy £2.4billion in lost output.

Economist Julian Jessop said: “This is likely to be enough to ensure that UK GDP falls in the second quarter as a whole, encouraging more talk of ‘recession’.”

Yet after other jubilees, there has been a “bounce-back” effect in the month after which can make up for losses experienced.

The Department for Digital, Culture, Media, and Sport said: “If the Platinum Jubilee bank holiday weekend is considered within only one month or quarter, then there is likely to be a sharp negative impact on output, as the loss in output is likely to exceed the increase in spending for that day

“However, if the impact of the bank holiday is measured over a longer period of time, then the net effect may counteract some of this decrease.”

So what do YOU think? Was the Platinum Jubilee worth all the expense? Vote in our poll and leave your thoughts in the comment section below.



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