Baptist Morin
Great Britain is about to experience an important sequence. The funeral of Queen Elizabeth II will take place in the coming days. A few weeks or months later, it will be the turn of his son Charles to be officially crowned King of England. These events will take place in a delicate social and economic situation in Great Britain and will themselves have consequences.
The death of Queen Elizabeth II, which occurred on Thursday, will deal a blow to the British economy. According to various estimates, between 1.5 and 7 billion euros of shortfall will be to be counted because banks, shops and businesses will close to pay tribute to the queen, at least during her funeral. A similar situation was observed in 1997, when Princess Diana died.
The British economy could then slow down again for the enthronement of King Charles III. Holidays are also synonymous with non-working days. Last June, for the jubilee of Elizabeth II, the British did not work for two days and the GDP contracted by 0.6%.
An already fragile economy
Except that today, the economic situation is already worrying in Great Britain. Just appointed to Downing Street, Liz Truss announced a 150 billion euro plan on Thursday. Freezing energy prices for households for two years is the heart of this anti-inflation ordinance.
Price increases exceeded 10% and are estimated to reach 11% in October. Strange coincidence, inflation reached 11% in Great Britain in February 1952 when Elizabeth II became Queen of England.