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The Surprising Reason Why Bank Holidays Are Called 'Bank Holidays'

26 August, 2024 - 8:03AM
The Surprising Reason Why Bank Holidays Are Called 'Bank Holidays'
Credit: newsroompost.com

This bank holiday weekend is looking pretty good, with Notting Hill Carnival set to take place in London and just-about-okay (by UK standards, anyway) weather predicted across much of the country.

Uncontroversially, I’m a huge fan of bank holidays. But I’ve always wondered why they’re called that.

I had a vague idea it had something to do with banks (which is true), but I wasn’t sure what it is about, say, a Monday in late August would necessitate a teller’s day off.

So, I looked into it recently ― and I’ve been laughing about what I found since.

The Curious History of Bank Holidays

Sir John Lubbock, the 1st baron of Avery, who authored the Bank Holidays Act of 1871, is the reason why we have them in the first place.

Some say The politician, author, and banker (hence the name) set the dates according to when cricket was played in his local village ― he was said to have been a huge fan.

Early Bank Holidays

And per BBC Radio 4′s site, this bank holiday per weekend used to take place on the first, not the last, Monday of August.

That’s not the only change they shared, though.

For a while some called the first bank holidays ‘St Lubbock’s Days’ after the banker Sir John Lubbock” who helped them to become law, BBC Radio 4 says.

“Funnily enough that didn’t stick,” they added.

The Evolution of Bank Holidays

According to the Trade Union Congress, “Prior to 1834, the Bank of England observed about thirty-three saints’ days and religious festivals as holidays, but in 1834, this was drastically reduced to just four: Good Friday, 1st May, 1st November, and Christmas Day.”

The ’70s was the last time the Trade Union Congress (TUC) successfully campaigned for an extra bank holiday, the TUC says.

Nonetheless, they say about a third of UK workers clock in on at least one bank holiday a year (anyone in hospitality, food, transport, and more will know that other peoples’ time off is your peak crunch time).

I guess Lubbock isn’t a saint to everyone...

The Lasting Legacy of Bank Holidays

While the initial purpose of bank holidays may have been rooted in cricket schedules and the banking industry, their significance has evolved over time. They are now cherished by many as opportunities to relax, recharge, and enjoy time with loved ones.

Bank holidays have become integral to the fabric of British life, offering a welcome respite from the daily grind. They represent a unique blend of historical legacy and modern-day enjoyment, a reminder that even in the midst of a busy schedule, time for rest and celebration is essential.

The Surprising Reason Why Bank Holidays Are Called 'Bank Holidays'
Credit: sahoostockmarket.com
Tags:
Bank holiday United Kingdom August Bank Holiday Bank holiday history UK Sir John Lubbock Bank Holidays Act
Maria Garcia
Maria Garcia

Editor

Passionate editor with a focus on business news.

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