Experts have warned that the bank holiday for the Queen’s funeral raises the risk of Britain’s already faltering economy falling into a recession sooner than expected.
Businesses, schools and services across the country will close next Monday after the King approved a bank Holiday for the state funeral.
Economists said that the holiday, when combined with the impact of the 10 -day national mourning period on consumer sentiment, could weigh on business figures further this month.
Fears are growing about the health of the economy as soaring inflation, which has been driven higher by surging energy prices, hits household finances. Initial official estimates last month showed that gross domestic product shrank by 0.1 per cent in the second quarter of the year.