Business leaders have called on Prime Minister Boris Johnson to make the extra bank holiday for the Queen's Platinum Jubilee a permanent fixture. In an open letter, the CBI, UK Hospitality, and other major brands proposed a 'thank holiday' to honour the monarch and public service, arguing it would provide an economic boost after the pandemic.
The campaign, led by Dragons' Den investor Deborah Meaden, includes bosses from Siemens, Punch Pubs, and the Campaign for Real Ale. Meaden said the move would give 'the country a social and economic stimulus we need after a difficult few years'. However, ministers at the Department for Business, Energy & Industrial Strategy have no plans to make the change, citing concerns over significant costs to the economy.
Research by PwC, commissioned by the campaign, suggests the government has overestimated the cost of a new bank holiday by about £500m. While official modelling puts the cost at £1.36bn, PwC estimates it at £831m, noting that sectors like retail and hospitality would benefit from increased demand. The findings also indicate that scheduling the holiday on a Friday would reduce knock-on costs.
England and Wales currently have eight bank holidays annually, compared to the EU average of 11. Kate Nicholls, chief executive of UK Hospitality, said the sector would 'embrace this important tribute', though businesses may need additional staffing. The TUC, Iceland, and the Royal Voluntary Service have also backed the campaign, with the TUC previously calling the current number of bank holidays 'stingy'.
