The layout has just been approved by King Charles III.
The day of the Queen's funeral will indeed be a holiday.
Although the exact date has not yet been announced, they could take place on Monday, September 19.
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On this day, most shops are expected to close, as is the London Stock Exchange.
More details are awaited on the course of this day for the British but it is, for the moment, indicated on the government site that: "
depending on the nature and location of their business and the tone of the planned events, certain companies may wish to consider closing or postponing events, particularly on the day of the state funeral.
However, this is at the discretion of individual companies.
»
“
A priori, British employees may not work on this day but companies will not have the obligation to close
”, explains Catherine Mathieu, economist at the French Observatory of Economic Conditions (OFCE), specialist in the United Kingdom .
A possible impact of nearly 0.8% of quarterly GDP
To anticipate the economic impact of this holiday, it is necessary to look to the past.
During Her Majesty's Golden Jubilee in 2002, the British enjoyed a day off from work to celebrate 50 years of reign of their Queen.
According to a report by the British Office for National Statistics (ONS), its negative impact was 2.3% of Gross Domestic Product for the month in question, or 0.8% for the quarter.
An order of magnitude transposable to the public holiday announced for the funeral of Elizabeth II.
"
It's a substantial impact but it should still be a little lower because there will be, on the same day, a resurgence of activity in transport and hotels for the British who wish to go to London. or in Windsor to pay homage to the Queen
”, nuance Catherine Mathieu.
But beyond the public holiday, the national mourning, announced by the British government, must last ten days, until the funeral, putting the affairs of the country on hold, in full inflation.
In the aftermath of the death of Elizabeth II, sporting and cultural events were canceled, department stores decided to keep their doors closed, and railway and postal workers suspended their planned strikes in the face of the cost of living crisis.
The Bank of England, for its part, announced on Friday that its monetary policy meeting, the decision of which was to be published on Thursday, would be postponed by a week.
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Moreover, with the accession of Charles III to the throne, banknotes and coins, including stamps and passports, will have to change to make way for the new king's face or his initials.
However, these changes should not weigh very heavily on the British economy.
“
Certainly, this will represent a cost for public finances but it will remain marginal
”, assures Catherine Mathieu.