26. April 2011 08:42
If you haven't heard about it by now... where have you been?! This friday (the 29th April), we'll see the marriage of Prince William and Kate Middleton, a glorious event that has kindly given the working men and women of England a day off of work!
However, whilst the employed are rejoicing at the thought of a day of partying, barbecues and relaxation, businesses are expecting mixed results this week.
The opinion seems to be fairly divided, with many claiming that the wedding will drive millions of pounds into the economy through tourism, whilst others claim that businesses will lose millions as their staff pull sickies for the three days between the two long weekends. An accountancy firm named RSM Tenon have warned that the loss to an average British business for every bank holiday could be as much as 6-billion, so who knows what effects this event could have on the UK economy.
There has always been the long-running argument as to whether the Royal household spends more money than it generates, but the 2010 Royal Public Finances Document shows that around £38 million was spent on the royals, where VisitBritain claims that the British Monarchy "generates well over £500 million a year from overseas tourists."
While we won't truly know the effect of the Royal Wedding until long after the event has happened and everyone has returned to their day-to-day lives and jobs, we should just relax, have a good day and celebrate the unity of our future monarchs!