GDP own goal as UK tunes in

The World Cup and Golden Jubilee will cost UK employers more than £3 billion
in lost output while staff stay tuned in to the events, according to the Centre
for Economics and Business Research.

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The centre’s research says that Friday’s historic victory for England
against Argentina and tomorrow’s game between with Nigeria, as well as the
Ireland-Germany clash could cost one third of a day’s output in June –
equivalent to £1.3bn in lost GDP. But the impact of the Golden Jubilee will
cost the economy an additional £2bn in GDP.

CEBR economist Richard Greenwood, said the impact will be offset by
increased spending. "Pubs and off-licence trade could benefit by around
£100m, as will telecoms, betting and newspapers," he said.