Hatterlovesbrighton
something clever
Briefly, a lot of it seems to be based on expectation which is okay in itself, but the scenarios do not have any data to support them.
And I am not an economist, although I did study for an o level and dabbled a little a uni as part of my maths and stats degree.
At the micro level Joe Bloggs might work an extra day to make up for a day spent waving a flag but my understanding of GDP at the macro level is that a day off is lost forever. Like when London ground to a halt when there were a few millimetres of snow a while back; all the business, industries and services which are traded in a single day in the City simply cannot be made up at a later date.
I'd agree with you on the snow and bad weather. But I think there is a big difference between a reasonably long and pretty unexpected period of no activity
with one day which has been know about yonks.
I'd also say that there is probably only so many additional bank holidays you can get away with without it becoming a big drain.