Extra UK bank holiday in October 'could boost economy by £500m'

CEBR recalculates one-day shutdown as financial boost after enforced abstinence' from Covid-19 lockdown

A prominent economist, who once suggested that the average bank holiday left the UK with a bill for billions of pounds, says an extra national holiday in October might boost the country's economy by 500m.

Douglas McWilliams, deputy chairman of the Centre for Economics and Business Research (CEBR), also suggested a move towards a four-day working week could help the UK's finances - in an apparent reversal of his thinktank's previous position.

Related: Extra UK bank holiday could help cut 37bn tourism loss, MPs told