Hillary Cooper Law would like to extend our deepest sympathy and condolences to the Royal Family following the passing of Her Majesty Queen Elizabeth II on Thursday 8th September 2022.
We join the rest of the nation in mourning this great loss. She was iconic.
How will the Queen’s passing affect businesses and the economy?
The death of Queen Elizabeth II is an event that has shaken both the nation and the world at large. Her passing has been marked by a 10-day mourning period in the UK, culminating in her state funeral on Monday 19th September 2022, a date which has been declared a National Bank Holiday.
Although the National Mourning Guidance published on Friday 9th November 2022 placed no obligation on companies to suspend business during this period of mourning, many businesses, financial institutions and unions have cancelled or postponed events in order to show respect to the late Queen and the rest of the Royal Family, including the Trades Union Congress (TUC). The London Stock Exchange is also set to close on the day of the state funeral.
Furthermore, The Bank of England has chosen to delay the meeting of the Monetary Policy Committee (MPC), originally scheduled for Thursday 15th September 2022, until Thursday 22nd September 2022. This is significant as in this meeting the MPC will make a decision over raising interest rates after inflation hit a record high in July 2022 in the UK. It is widely anticipated that the bank will increase interest rates from the current rate of 1.75% by at least 0.5%.
Not only this, but Liz Truss was appointed as the new Prime Minister on Tuesday 6th September 2022, just two days before Queen Elizabeth II’s passing. Before the news broke on Thursday evening, Ms Truss had announced a plan to aid British households and businesses to counter rising energy costs. This plan was due to be debated in the House of Commons on Monday 19th September 2022 and included proposals for energy prices to be frozen for two-years for individuals and for six months for businesses and public organisations.
However, in light of Her Majesty’s death, all Parliamentary discussions have been placed on hold for 10 days, resulting in increasing financial uncertainty for British businesses and members of the public, many of whom are eagerly anticipating further announcements from the government in respect of financial support amid the current cost-of-living crisis.
Hillary Cooper Law will be closed on Monday 19th September 2022.
How will the Queen’s passing affect the Legal Sector?
Her Majesty’s death has had several repercussions for the legal sector, namely in the courts of the United Kingdom. The Crown Office have announced that the title ‘Queen’s Counsel’ or ‘QC’, a title afforded to senior barristers and solicitors who are recognised as experts or leaders in their legal fields, is to be changed to ‘King’s Counsel’ or ‘KC’ with immediate effect. This change was brought in automatically so there are no new Letters Patent (Letters Patent are legal instruments generally issued by the monarch granting an office, right, title or status to a person).
Furthermore, King Charles III’s accession to the throne has resulted in the Queen’s Bench Division being renamed the King’s Bench Division. Additionally, in criminal prosecutions which are conducted on behalf of the monarch, the ‘R’ (representing ‘The Crown’ in reports of criminal cases) will no longer stand for Regina, meaning Queen, but Rex, meaning King.
On Thursday 9th September 2022, there was a two-minute silence held in the UK courts. Lord Burnett, the Lord Chief Justice announced that ‘Today is a day of great sadness for all judicial office holders in England and Wales, across the United Kingdom and around the Commonwealth. Her Majesty’s service to this country and the Commonwealth throughout the seven decades of her reign has been unparalleled’.
As an aside, this is probably the last reigning Queen this country will have for the next century.
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