The death of Queen Elizabeth will be the most disruptive event in Britain in the last 70 years

Queen Elizabeth the Second, by the Grace of God Queen of this Realm and of Her other Realms and Territories, Head of the Commonwealth, Defender of the Faith, is not going to live forever.

Since ascending to the throne in 1952, the monarch has seen 12 Prime Ministers serve Britain, and lived through another 12 US Presidents. She’s now 88. At some point — not for many years yet, we hope — Queen Elizabeth II’s reign will come to an end.

But what happens then?

For at least 12 days — between her passing, the funeral and beyond — Britain will grind to a halt. It’ll cost the British economy billions in lost earnings. The stock markets and banks will close for an indefinite period. And both the funeral and the subsequent coronation will become formal national holidays, each with an estimated economic hit to GDP of between £1.2 and £6 billion, to say nothing of organisational costs.

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