What will happen to the British economy after the death of Queen Elizabeth II - Newssails

What will happen to the British economy after the death of Queen Elizabeth II - Newssails

According to Insider, four out of every five Britons were born while Queen Elizabeth II was the country's longest-reigning monarch as of 2017.

In addition, 6.5 billion individuals worldwide were born during her tenure as queen, meaning that the majority of the world's population has only seen her rule as monarch (via Macro Trends). 

She has met 13 of the last 14 U.S. presidents (according to Newsweek, she never met Lyndon Johnson), and she has observed 14 prime ministers in the British parliament, helping her to become one of the most powerful people in the world.

She was just 13 years old when World War II began, making her a survivor of Adolf Hitler's tyranny as well as the COVID-19 pandemic, which puts her age in even more perspective (via The National WWII Museum).

Regardless of her longevity, Her Majesty will pass away because she is only human. This incident will inevitably cause a frenzy in the UK that will drain billions of pounds from the country's economy. 

As the country enters a state of mourning, businesses will close, new money will be created, passports will change, military uniforms will need to be updated, and the national anthem will be modified as a result.

Her passing will utterly upend a world that has become accustomed to her rule, fundamentally altering how we currently perceive Great Britain.

LONDON IS DOWN BRIDGE

The moment Queen Elizabeth II passes away, Operation London Bridge kicks up.

Prince Charles, who will be referred to as King Charles immediately (unless he chooses a different name under which to rule), will have his hands kissed by his siblings and ascend to the throne, if he doesn't predecease her.

The prime minister will be notified that London Bridge is down and awakened.

The designation "London Bridge" was granted to Queen Elizabeth II so that government representatives may use it via secure telephone lines to alert other prominent members of British society on the monarch's passing.

The origin of this custom can be traced back to King George VI, who was given the codename "Hyde Park Corner" after his death to prevent switchboard operators from learning of his passing (via The Guardian).

When the news of the queen's passing eventually reaches the media, it will trigger a period of national mourning.

In order to alert the public that a national emergency has occurred, each news station in the United Kingdom is equipped with a set of lights that will flash.

To indicate the state of mourning, radio stations will play a selection of depressing music, and businesses will do the same (via The Guardian).

THE MORTUARY PROCESS

Banks and the stock market will be closed on the day of the queen's passing.

The bulk of companies will most likely do so out of respect for her majesty.

This will be the British economy's first significant blow since the passing of Queen Elizabeth II.

The government will swear its allegiance to King Charles with a 41-gun salute as he delivers his first address as monarch live on the internet (via Insider).

After that, King Charles will tour the entire United Kingdom and meet with regional political leaders.

The funeral will be held about a week and a half after Her Majesty's passing.

An official bank holiday will be established, resulting in a second closure of the stock market and banks during the period of mourning, which will further harm the British economy.

The service will start when Big Ben's bells strike 11 a.m. She will presumably be interred close to her father, King George VI, after the service when her coffin is taken from Windsor Castle to St. George's Chapel.

THE ECONOMY IS TRANSITIONING

The British economy will undergo significant changes over the next few years.

To begin with, King Charles' face will need to be printed on new coinage.

But the old banknotes won't stop being used immediately, and it will take time for them to disappear from circulation (via Independent).

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Given that they now "request and require in the Name of Her Majesty all those whom it may concern to allow the bearer to walk freely without let or hindrance," British passports will also require some revision (via Independent).

Additionally, stamps will require an update and replacement with fresh issues featuring King Charles' head.

If King Charles so wishes, his coronation will occur within a year of the queen's passing.

The most likely scenario is that he will decide to continue with the custom and declare another bank holiday.

For the third time since Her Majesty's passing, banks and the stock market will be closed, and many companies are likely to do the same, according to Insider.

FOOT A MASSIVE BILL

The modernization of military and law enforcement equipment will be another result of Queen Elizabeth II's passing.

The queen's initials and regnal number are currently embroidered on police helmets in the United Kingdom, which in the past has generated considerable controversy. 


Police helmets in Scotland bearing the regnal number II of the newly crowned Queen Elizabeth II infuriated some local Scots because Scotland had never had a Queen Elizabeth I.

According to Independent, some post boxes with her royal cypher were damaged as a result.

The death of the queen is anticipated to cost the British economy between $1.6 billion and $7 billion due to all of the bank holidays, business closures, funeral expenditures, changes to passports, military and police uniforms, currency adjustments, and other minor institutional changes (via Independent). 

However, the effects of Queen Elizabeth II's passing won't simply be felt in the UK; they will be felt all over the world.

Her passing might be the final straw for the British Empire, which has been losing ground over the previous century.

AN ERA IS COLLAPSE

The British Empire gave way to the British Commonwealth, which was ruled by Queen Elizabeth II for practically all of its existence.

With 54 member countries and a combined population of 2.5 billion, it is one of the biggest international organizations in the world.

Most of the countries are ex-colonies of Great Britain, including developed nations like Australia, New Zealand, and Canada.

According to Reuters, some scholars, however, contend that the Commonwealth is out of date and that Queen Elizabeth II's passing could lead to its dissolution.

According to Reuters, protesters demanding restitution for the injury they claim the British government did then encountered Prince William, Prince Charles' son, when he traveled to Commonwealth countries in the Caribbean. 

However, the organization's supporters claim that it gives developing countries stronger trading linkages with the rest of the globe.

Nevertheless, following the passing of Queen Elizabeth II, the organization's future is still ambiguous.

There is no doubt that the queen's passing will mark the end of a chapter in British history, with repercussions felt not only in England but also around the world.

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