In the lead-up to King Charles’s coronation, there was a lot of debate about whether the Chubbly should have been done as a smaller, cheaper affair. Plus, the coronation was a “bank holiday” in the UK, and Buckingham Palace and Downing Street swore up and down that the coronation would stimulate the local economy, especially in London, as people would naturally flock to see their septuagenarian king. The British economy did not see a coronation boom. In fact, it saw a small retraction:Britain’s economy shrank by 0.1% in May after a hit to activity from a trio of bank holidays, including for King Charles’s coronation. The coronation could have stimulated the local economy but Charles didn’t want to pay anyone for their work, so there you go.

Source: The Guardian July 15, 2023 00:13 UTC