Economists Say Bank Holidays Harming the Economy

The video discusses the economic impact of bank holidays in the UK, highlighting a report suggesting that each holiday costs the economy £2.3 billion. It explores the idea of redistributing holidays more evenly throughout the year. The video also covers public opinion, particularly from the tourism sector, and the government's reassurance that there are no current plans to reduce the number of bank holidays, despite economic concerns.

What is the estimated economic cost of each bank holiday according to the Center for Economic and Business Research?

• £3.0 billion

• £4.2 billion

• £2.3 billion

• £1.5 billion

Why does the Center for Economic and Business Research suggest spreading bank holidays more evenly throughout the year?

• To reduce economic costs

• To increase tourism

• To align with international standards

• To improve weather conditions

What special arrangement was made for the Diamond Jubilee weekend?

• A new bank holiday was introduced

• All bank holidays were canceled

• An extra day off was added

• The bank holiday was moved to December

How do tourist attractions like the Museum of Science and Industry in Manchester benefit from bank holidays?

• They receive government funding

• They experience increased visitor numbers

• They host special events

• They close for maintenance

What is the government's current stance on changing the number of bank holidays?

• They will decide based on public opinion

• They plan to increase the number

• They plan to reduce the number

• They have no plans to change the number