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The Death of Queen Elizabeth II

Updated: Sep 20, 2022

The longest-reigning queen in British history, Queen of England, passed on to the great beyond on September 8th at the age of 96. Elizabeth's passing was announced amid a period of political change within the UK, with Prime Minister Liz Truss having been chosen only this past week. Having worked with 15 different British prime ministers since her accession to the throne 70 years ago, Elizabeth was an emblem of stability for the state. The economy of the country is going to be impacted by the death of the Queen since the mourning process is dear and signifies the tip of an era for the British people's monarchy. Operation London Bridge had been set in motion for years, as had Operation Spring Tide, which was intended to lead off the king's rule. However, there are still some things which will alter over the subsequent few days, weeks, and maybe even months. In the UK, all coins and currencies feature the image of the Queen; however, after her passing, the new money is anticipated to be issued with the face of King Charles III. The old currency featuring Elizabeth II's face will progressively be taken out because the new money is created and put into circulation. Notably, the United Kingdom will incur significant costs as results of these efforts to switch Queen of England with King Charles III on coins, stamps, and cyphers. 

All UK passports must be changed after the Queen's passing, which can raise the value even further. Per reports, this has been planned for a while, and therefore the current currency will still be accepted as payment. Consistent with The Guardian, there are already 4.5 billion banknotes in use that include the queen's image; it might take a minimum of two years for the king to be depicted on them. Also, currency in Australia, Canada, and New Zealand has the face of the queen. Similarly, stamps and post-boxes are expected to undergo some changes. When it involves country passport, it currently reads as "Her Britannic Majesty's Secretary of State requests and requires within the name of Her Majesty all those whom it should concern to permit the bearer to pass freely without let or hindrance and to afford the bearer such assistance and protection as is also necessary.” However, with the new King, the text will reportedly be tweaked to reflect male pronouns. It's also possible the royal standard flag, the one that flies at a building whenever the top of the house is in residence, could change. 

‘God Save the Queen’ will not be a component of the anthem. The anthem will presumably return to the first version that was created for the monarch. The previous rendition of the anthem was last performed in 1952, during the reign of King George VI. Queen Elizabeth II's passing will likely cost the British economy between $1.6 billion and $7 billion because of all the bank holidays, business closures, funeral costs, coronation costs, changes to passports, military and police uniforms, currency adjustments, and other minor institutional changes, in line with Independent. It's important to notice that the United Kingdom is struggling to forestall an economic recession as a result of inflation and an energy crisis. The Bank of England raised interest rates this month by 0.5% points, the best single hike in over 30 years, because the overall measure of inflation reached 10% for the primary time since the 1980s. 

In addition to Charles' title, the house regularly changes many other titles. Camilla Parker Bowles, the spouse of King Charles III, is currently the queen. Previously referred to as the Duke and Duchess of Cambridge, Prince William and Kate Middleton are now called the Duke and Duchess of Cornwall and Cambridge. Despite the fact that Prince Harry and Meghan Markle now do not belong to the royal line, it's still possible that Archie and Lilibet will inherit the titles of prince and princess.

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