Hopes of permanent extra bank holiday dampened by No 10

Cost to economy invoked in response to widely backed campaign to make day more than just a jubilee one-off

Ministers appear unlikely to make the forthcoming extra bank holiday in honour of the Queen's platinum jubilee permanent, as Downing Street poured cold water on the plans and stressed the high cost to the economy of such a move.

Business leaders - including Dragons' Den star Deborah Meaden and ITV chief executive, Carolyn McCall - had launched a campaign calling for the government to consider the wider benefits of turning next month's additional public holiday into an annual fixture.