Business calls for bank holidays to be scrapped

Channel NewsChannel Strategy

It costs the UK a fortune

The Centre for Economics and Business Research (CEBR) has estimated that each bank holiday in the UK damages the economy by £2.3 billion.

It points to the example of South Korea, where people work far harder than they do than here in the UK, according to a report on BBC radio news.

Today is a bank holiday here in the UK, and celebrates the birth of the Easter Egg. Easter Monday, which falls on a different day each year using a complicated algorithm, is traditionally a time for rain to fall and for people to go out and buy useless stuff.

The next bank holiday in England is the 7th of May, and then there are two in early June – the latter being related to a Royal marriage.

The CEBR, according to the BBC, estimates that the UK’s GDP would rise by £19 billion a year if all bank holidays were scrapped. Channel Biz called the CEBR. It appears to be on holiday.

Author: Mike Magee
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