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Author Topic: Royal wedding to hurt Britain’s economy  (Read 6152 times)
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Mia
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« on: April 26, 2011, 03:16:26 pm »

Yahoo: Royal wedding to hurt Britain’s economy

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Let's hope Friday's big blowout is a right royal good time. Because thanks in part to a quirk in the calendar, it's set to take a pretty heavy toll on Britain's economy -- which isn't in great health already.
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« Reply #1 on: April 26, 2011, 05:06:12 pm »

Well, it does not surprise me at all. It's in the middle of the 'business season' and not during the tourist season, the security has to have been added to significantly because of terrorist threats and other additional security of dignitaries, and then of course the usual security set up for these things.
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« Reply #2 on: April 26, 2011, 06:04:22 pm »

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All in all, taxpayers could be on the hook for around $35 million or more at a time when a severe budget deficit has led Cameron's government to make far-reaching cuts to services.

Appalling for the size of the country.  I'm not surprised; we all predicted this, but it's still a horrible thorn to bear.  I'm so sorry.  So much for simple and 'mindful of the economic climate' and 'austerity will rule the day' remarks from them.
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« Reply #3 on: April 26, 2011, 06:45:22 pm »

So much for taxpayers paying 'only' twenty million pounds and considering the wedding cutbacks, put frankly the RF is cheating the taxpayer of everything. None of these guests are going to bring jobs, or the promise of jobs, nor will this wedding bring in the income they are supposed to from tourism. Considering the precarious state that the British economy is already in, this wedding will only likely send it more over the edge.
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« Reply #4 on: April 26, 2011, 07:06:28 pm »

I don't blame William,he couldn't resist the push the media and the Midds did to him.Sadly the people are the ones who will suffer.
I think that when the wedding is over the first who will receive the angry people is the media and with a very good reason,they were the ones who made this wedding to happen not the royals.Later the Midds and sadly because none do anything to stop it,the Royals.
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« Reply #5 on: April 26, 2011, 07:12:54 pm »

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I don't blame William,he couldn't resist the push the media and the Midds did to him

Few would be able to resist that level of pressure he got from the tabloids and the Midds.
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« Reply #6 on: April 27, 2011, 04:12:02 am »

I heard on the radio that the wedding was going to cost around 34-5 million and that the TAXPAYERS would fit around $32 million!

Now adding another $50 thousand for a freakin forest inside Westminster... thumbsdown
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« Reply #7 on: April 27, 2011, 04:25:20 am »

Congratulations press! i am so happy that all those journalist were so greedy that now the british people had to pay millions.
I just wish with all my heart that really people don't take it against William,just remember what happen last year (just as little example because it was for years) and the press were pushing for the wedding and William couldn't go anywhere without be ask "when you are going to marry".

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« Reply #8 on: April 27, 2011, 07:13:27 am »

Yes, the tablloids are largely to blame for this, what with their INSISTANCE on a wedding, any wedding, just so they could be the ones to 'be there' in history. Of course, it's not like it's actual history as it naturally happens, but will be manufactured history, like Hollywood history.
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« Reply #9 on: April 27, 2011, 10:32:55 pm »

I don't blame William,he couldn't resist the push the media and the Midds did to him.Sadly the people are the ones who will suffer.
I think that when the wedding is over the first who will receive the angry people is the media and with a very good reason,they were the ones who made this wedding to happen not the royals.Later the Midds and sadly because none do anything to stop it,the Royals.
Why not? he has 28 years old... it's not a child.. if he is spoild is his problem.. i believe that everyone on his family told him.. but for him kate's family has the best that he could have... so he can face it.. and give solutions to his people does not pay for his wedding.. he has a fortune so pay it...
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In life nothing happens by accident. we must remember that there are no good that lasts forever. And evil that never ends. God works in mysterious ways. So I just have to accept what happens because we do not know what we gain by things go this way. Not always what initially seems an award is the. This happens when we fall in love, when we found out a new job when a friend disappears or when someone leaves for ever.
True Brit
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« Reply #10 on: April 28, 2011, 01:39:11 am »

It will be at least £50 million and possibly in excess of £100 million. This was the original story and there is no doubt there will be lots of hidden costs. I suspect the pressure group Republic will get details of the costs after the event/. There will be lots of hidden costs involved too.

I did start thinking about the RF's costs too. What are they? Mainly catering for 600 at a drinks reception and 300 for a dinner followed by a disco. They own the cars, the carriages, the palace, the armed forces are paid anyway, extra costs for the Battle of Britain Memorial Flight and the Tornadoes fly past. The wine is English and according to the DM £8.50 a bottle. The estimated costs of the flowers/trees is £50k but these are coming from the Royal Estates. There are florists to pay and dress designers/hairdressers/make-up artists. Have I forgotten anything? I doubt these costs will be, let's say £1-£2 million. Absolutely nothing compared to the taxpayer's bill is it?

http://www.telegraph.co.uk/news/uknews/royal-wedding/8141237/Royal-wedding-Queen-and-Charles-to-pay-their-share-of-the-bill.html

I get so weary of seeing this ridiculous argument of a)they bring in the tourists (not true) along with b) it will boost the economy as we know it will drain the economy. Roll on Saturday.
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« Reply #11 on: April 28, 2011, 02:01:06 am »

TB  thumbsup

I have always thought to myself, we are paying the most of everyone.

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pyrenees
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« Reply #12 on: April 28, 2011, 02:02:52 am »

It's your right to get TAX REFUND due to royal wedding waste expenses.
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« Reply #13 on: April 28, 2011, 02:16:56 am »

This is and has been my career for a long time and I swear I predicted I think it was today, to at least double whatever the media says and add at least $1M more for incidentals.  In the end, the taxpayers will foot the bill for this.  It's tricky bookkeeping and if I ran this the way they are, as I stated earlier, the IRS would be all over me.  Technically, the BRF are supposed to be a non-profit organization, when it comes to events and trips, etc.  Weddings, they 'sell' bring in tourist dollars to overcome any costs.  That is NOT a given.  And no accountant would buy it nor would a president of any company, which this BRF also is.  A very large company, very adept at hiding and averting total transparency.

You are absolutely right, True Brit, most everything they're using they already have, so the cost ratio doesn't make sense.  What are they really paying for?  Not much, really.  YOU, the taxpayer are.

After looking at even just the surface of the costs, I would have to build my budget and go in with a firm $150-175M, if not more.  And the intake is also an unknown. 

And I highly, HIGHLY disagree that this is cost is to be thrown at the feet of the media.  No one held a gun to HM's head.  No one forced PW to say yes to every little thing.  Nobody from the media did this.  They didn't keep an eye on the cost ratio and it's the BRF and the Middleton's fault.  They never looked beyond their gilded windows to see the terror issue, the taxpayer outrage, the anarchists that drove the security sky high.  No.  What they failed to do was be realistic and scale BACK.  Go to a smaller, safer venue and keep costs down.  What do we have?  20' f'ing trees coming in at an outrageous price and that's all we've seen that's not hidden behind the curtain.

I know events and I know budgets and I know how these balloon and without a firm grip on cost and an emotional distance?  You're screwed.
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June
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« Reply #14 on: April 28, 2011, 12:12:44 pm »

I don't blame William,he couldn't resist the push the media and the Midds did to him.Sadly the people are the ones who will suffer.
I think that when the wedding is over the first who will receive the angry people is the media and with a very good reason,they were the ones who made this wedding to happen not the royals.Later the Midds and sadly because none do anything to stop it,the Royals.
Why not? he has 28 years old... it's not a child.. if he is spoild is his problem.. i believe that everyone on his family told him.. but for him kate's family has the best that he could have... so he can face it.. and give solutions to his people does not pay for his wedding.. he has a fortune so pay it...

Thanks byechoc - I agree with you.  thumbsup William could have demanded a private wedding ... it's all to please Waity, IMO.

TB: I stated this elsewhere too - this is the biggest con at the taxpayers' expense. Further, if the BRF had to pay for the security themselves, the event would have been minimalist for sure. So, by virtue, the taxpayers are funding it. The security being picked up by the taxpayers is allowing the BRF to be so extravagant. It's just logical. If all of us had someone to pay our mortgage/rent and bills, we would have more money to spend on luxuries, like holidays, new clothes etc. And that is all this con is, but on a larger scale.  thumbsdown

And since when do the Crown Estates belong to the royals? Aren't they publicly owned? Why should the royals have control over the profits?  X-Mas_rolleyes My God, this con is maddening?  Angry

The castles and historic monuments would remain if the Windsors were given the boot. All they own is Sandringham, don't they? Who gives a toss. Keep the public buildings open to attract tourists. I've never heard that the Queen is even in residence when the tourists visit anyway.

I think I've convinced my father that Oz should become a republic. I told him that at the moment, we have NOTHING AND NOBODY to keep the parliament in check. Our Head of State is a foreign Queen who, in reality has no power or no interest in our laws and how we run our country. The Queen, to her credit, has always said so.

Yet, we have to pay for her representative (the Governor-General) to swan around looking ridiculous, flying to meet with the Queen on our dollar, living in the best house in Oz (costing a fortune for upkeep), spending hundreds of thousands of dollars on flowers and clothes, whilst demanding very expensive renovations on her residences. How outrageous is that?  Angry

We don't have a say over our laws. The right republican model, like the US one would give us that.  thumbsup

Constitutional monarchies have no place in the 21st century. They have outlived their welcome with their arrogance and largesse, and it's time to move along now, though it should have been years ago.

The other thing is: security for royals is outrageous! How on earth do they justify that?  blink  Shocked In one article the other day, there were numerous cars trailing William, not just one. Security is getting far more costly these days, with the threat of terrorism, and increases in technology.

And, what is going to happen to the Midds once this is all over? They are used to security protecting them. Are they just going to pack up back to Berkshire without security?  easter-think And, I can't believe that nothing was said about Waity not moving into one of the palaces, thereby reducing security cost.

Yooper: yes, it's creative accounting, isn't it?  X-Mas_rolleyes

Ok, rant over.
« Last Edit: April 28, 2011, 12:18:27 pm by June » Logged
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« Reply #15 on: April 28, 2011, 12:20:18 pm »

Correction: when I stated 'largesse',  I meant toward themselves.  tehe
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« Reply #16 on: April 28, 2011, 11:20:29 pm »

There's going ot be a pulitzer for someone who figures this out and publishes it; if the monarchy is caught out ripping off the taxpayer through fraud, it could end up causing a huge amount of anger that the taxpayers were so cheated.
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« Reply #17 on: July 26, 2011, 11:13:54 am »

So here are the growth figures for the second quarter and, although a few other factors have come into play, it appears that the Royal Wedding added to the drop in the economic figures. And what were they claiming? It would bring millions/billions/trillions in.

http://www.dailymail.co.uk/news/article-2018853/Tax-cuts-ruled-Cameron-Osborne-refuse-retreat-50p-rate.html

There have also been attempts by some economists to link the RW with the positive figures for supermarkets such as Sainsbury's but when they were analysed it turned out the stuff they were selling such as barbie food, drink, paper plates etc were also down to a series of bank holidays and warm weather.

However here's an interesting quote re Sainsbury's RW specific sales - these figures hardly seem impressive in a nation of 66 million and rising. I mean 49,000 mugs or those mug enough to buy the tat.

Quote
"Sainsbury (LON:SBRY) sold nearly 300 miles of bunting, 159,000 flags and 49,000 mugs because of April's Royal wedding in April, the firm said today, as it released a Q1 trading statement."

And Tesco got a bit of boost

Quote
THE succession of spring bank holidays, including the Royal Wedding, has returned Tesco to growth in the first quarter, figures out this week are expected
to show.

http://www.express.co.uk/posts/view/252270

Similar reports came from Next who claimed a RW boost but as they sell their summer range of clothes and not anything RW specific it's hard to see how they can justify anything other than good weather and bank holidays. It's not looking good.
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« Reply #18 on: July 26, 2011, 11:23:34 am »

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The ONS highlighted a number of special events in the second quarter that may have affected the GDP figures.

They were: the additional bank holiday for the royal wedding, the wedding itself, the after-effects of the Japanese earthquake and tsunami, the first phase of Olympic ticket sales and the record warm weather in April.

The ONS estimated that without these one-off factors, GDP would have been 0.5 percentage points higher.
http://www.bbc.co.uk/news/business-14288348
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« Reply #19 on: July 27, 2011, 09:43:38 am »

so what's the truth ?! Did or Didn't The RW bring any real money ?
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