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Extra Bank Holiday Would Pose 'Considerable' Extra Cost, No 10 Says

A portrait of Queen Elizabeth II is displayed at Piccadilly Circus to mark the start of the Platinum Jubilee in London, on Feb. 6. 

A portrait of Queen Elizabeth II is displayed at Piccadilly Circus to mark the start of the Platinum Jubilee in London, on Feb. 6. 

Photographer: Hollie Adams/Getty Images

Downing Street has poured cold water on calls for a permanent extra bank holiday in honour of the Queen's long reign.

The Chancellor is expected to consider proposals to create a new bank holiday in honour of the Queen but the move would cost the economy billions of pounds.