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Author Topic: Did the jubilee made billions for UK?  (Read 2538 times)
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Alexandrine
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« on: June 06, 2012, 05:23:39 pm »

After the balcony appearance CNN showed data about the benefits of the jubilee for the UK economy. But they were such high numbers that I thought they couldn't be real.

Apart from commonwealth countries no one knew about the jubilee  Embarrassed

Some articles pro and contra

The £6bn cost of the big break: Economy takes huge hit from extended weekend, says experts

http://www.dailymail.co.uk/news/article-2155132/The-6bn-cost-big-break-Economy-takes-huge-hit-extended-weekend-says-experts.html?ito=feeds-newsxml

Has economy been affected by Jubilee Bank Holiday?

http://www.myfinances.co.uk/investments/2012/06/06/has-economy-been-affected-by-jubilee-bank-holiday

'Jubilee Spending Boost - But Economy Is Down'

http://news.sky.com/home/business/article/16241611


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« Reply #1 on: June 06, 2012, 05:52:19 pm »

If the Jubilee cost six billion, then that it often an impossible number to recoup and for it to make billions, there would have to be a huge structure in place to end up absorbing that sort of tourism and money. I wish the press would kind of give up on the Windsors and face up to the fact that HM and the RF are running in the red in terms of contribution.
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« Reply #2 on: June 06, 2012, 06:11:17 pm »

^agreed. Also with wWaity spending money like it's water isn't helping matters either. When you add up the cost of her Jubilee outfits, I'm sure that it'll be well over 10 thousand pounds, IMO.
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benign
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« Reply #3 on: June 06, 2012, 06:20:41 pm »

I doubt billions perhaps millions from TV specials and stuff....Jubilee cost is the least of the problems..they should start worrying about the Olympics coz theres a slight chance they wont be making enough to cover the expenses...
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« Reply #4 on: June 06, 2012, 06:31:03 pm »

The Jubilee definately beat the Royal Wedding for viewership. I'll bet.
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« Reply #5 on: June 06, 2012, 06:46:23 pm »

^agreed. Also with wWaity spending money like it's water isn't helping matters either. When you add up the cost of her Jubilee outfits, I'm sure that it'll be well over 10 thousand pounds, IMO.

The thing with the Jubilee is, that the RF didn't have as many international royalties as one might have expected given the situation. There was no mass parade of royals, there was no glittering balls where men and women dressed in EVERYTHING danced the night away where the photographers snapped photos and editors were calling them demanding pictures of the event. It's not like people were selling their souveneirs and selling gourmet foods while trucks trundled past carrying loads of tourists to historical sites. It's not like the RF was out there pounding pavement, greeting people, making appearances where they mattered and it was hardly inclusive. The people were not allowed to sail their flotillas and be a part of it, all were confined to the role of spectators and they were expected to fawn over them.
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« Reply #6 on: June 06, 2012, 09:04:50 pm »

Not having been there, I have no idea how one would go about making any kind of financial assessment of this.  There must have been some dough generated from the commemorative area, and some hotel revenue, but that's not really in the billions.  You'd have to have a base line of regular, steady income from tourism and business sales to see if it rose any.  My bet?  Red ink flowing.

But, the big daddy is indeed the Olympics, as Benign said.  That's a money hemorrhage.  I'm really surprised that London took this on, considering the Jubilee.  That was some really bad planning on someone's part.  It's not like London needs to be pointed out on the map to anybody on earth. 

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« Reply #7 on: June 06, 2012, 09:24:09 pm »

IMO the pageant was a huge waste of money, just watching royals on a boat for a couple of hours? Seriously?
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« Reply #8 on: June 06, 2012, 10:09:11 pm »

Not having been there, I have no idea how one would go about making any kind of financial assessment of this.  There must have been some dough generated from the commemorative area, and some hotel revenue, but that's not really in the billions.  You'd have to have a base line of regular, steady income from tourism and business sales to see if it rose any.  My bet?  Red ink flowing.

I am sure that a skilled accountant from the IRS would be able to make a proper assessment if he were given the information and then there would surely be riots in the street. I am sure that the debt is in the billions, not the profit; I wish the UK press would stop their grandstanding; the RF is now effectively obsolete and an albatross more than a real benefit. A few appearances and 'special' luncheons and a pageant in the middle of a horribly rainy day is not going to end up making that much of an impact.

I watched a set of episodes of Piers Morgan in various areas of the country and the Middle Eastern sheiks blow billions on their country's businesses and to me, that is how the Windsros should be acting instead of asking for more grants and more exemptions and more and more and more. The Middle Eastern royals get directly invovled in the business activities of their country, build businesses, maintian the growth of their country.

The Windsors are costing the nation so much and making appearances doesn't cut it; they aren't bringing in jobs and they are not bringing in prestige even, plus the marriage to Kate has cut the Windsors off from the rest of the Continental royalty and the rest of the world. It's not like Kate even brought a pedigree or a skill or even a solid reputation. She has brought nothing but ridicule and I am sure that the people are sick of her as well.

The DM can rave about how she 'packs in four engagements in forty-eight hours,' but that is nothing compared to the number of business meetings or number of engagements Diana did in a day; Diana did four a day and more when on tour. It's not like Kate is appearing at the UN or readying treaties. This Jubilee has been no different than any other major engagement and certainly nothing unique.
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« Reply #9 on: June 06, 2012, 10:39:40 pm »

Despite the constant overhyped claims this will have made no profit whatsoever for the UK and indeed will be ringing up a huge loss on the national cash register.

At the time of last year's wedding the Confederation of British Industry estimated a loss of £6billion for the extra bank holiday and this time we've had two extra bank holidays.

There are also hidden costs emerging - the scandal of the unemployed workers being bussed in revealed that £1.5 million was allocated by GLC and the Govt and there'll be huge security and policing costs.

Again estimated at £20 million for the one day wedding so x 3 = £60 million?

The Govt gave the RF an extra £1million for the Jubilee.

It will be a few weeks before we get a real idea and await the Bank of England's report.

I really do wish that such things made a huge profit for the nation but they never do and then we have the black hole that is the Olympics looming large and that will make the Jubilee costs look like small change indeed.
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« Reply #10 on: June 06, 2012, 11:48:46 pm »

They don't bring in money because at the moment, no one is really traveling. No one is at all really going anywhere and for some weird reason, the hotel owners don't seem to realize that and I am sure that because they were closed, restaurants didn't make a pence out of all the people who would have surely stopped in for food and hot drinks. It's impracticla to close these businesses on days when they should be open and could actually make money!

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The Govt gave the RF an extra £1million for the Jubilee.

Which is one million too much; the RF sits on a mountain of cash, so let them pay for this self glorifying celebration.

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Again estimated at £20 million for the one day wedding so x 3 = £60 million?

Probably a lot, lot more.

The thing with these events, is that they only factor in the basics, not the additional expenditures that come into play. Security is a large sum and whne you factor in the money lost because of the closed businesses, that alone is even more of a cost to the nation.

Lets say that the whole thing cost hte nation sixty million pounds, the royal celebrations alone that is.

However, therer is the money that businesses lose, which ends up possibly being eighty million (a conservative estimate), then factor in the fact that several workers were ripped off from being paid a fair wage, which could be twenty million and then of course, the costs towards the disruption of usual transport and routine and you are looking at (possibly) thirty million, that is a hundred and thirty million alone.

Factor in the sixty million and that is a sum total of a hundred and ninety million pounds possibly in the red. With the costs of the outfits and the jewels and the immediate staff, you are looking at up to a million more; then fuel and cleaning and such you can end up with two hundred million. I THINK you could change it to billion, two hundred billion easily. There is no way that this hasn't cost the nation more than they brought in and it was a total anti-climactic joke.

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It will be a few weeks before we get a real idea and await the Bank of England's report.

There will be riots in the streets, if there aren't any already after or during the Olympics.

The royal events in the past used to be a big deal because it wasn't as easily attainable ot watch online and you had to really rely on the networks to get it right; it used to be that you either watched it as it happened or missed out and could only watch clips as newscasters commentated about it.

Now you can get it via a download or YouTube and end up watching it at your convenience and end up enjoying the freedom of seeing these things at so many different angles that it's impossible to miss out unless you deliberately avoid it.

As for the economy, if people's lives were not in pieces, I am sure that there would be next to no one minding, but it's in an unprecedented free fall and there are few people who are going to end up with the warm fuzzies abotu a family that will NEVER KNOW the uncertainty they have faced.
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« Reply #11 on: June 09, 2012, 03:33:30 am »

I don't this lackluster event made billions unless they lie with the figures to justify the billions spent on it like the RF wedding.IMO_We need real figures to come out not questionable ones.
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