In this news report, a reporter checks out the bank holiday getaway to see what effect the economic downturn and the £50 limit on foreign currency exchange is having.
In a news report that has some modern-day resonance, a reporter checks out the bank holiday getaway to see what effect the economic downturn and the £50 limit on foreign currency exchange is having. Very little by all accounts, as roads, railways, coaches and airlines all report brisk traffic and trading.
The £50 limit was part of a package of steps known as the 'July Measures' that were intended to defend the poorly performing pound. Other moves included a six-month freeze on pay and dividends, cuts in public expenditure and higher taxes. All to no avail, as the pound was devalued in 1967 anyway. The year this economic crisis was occurring, 1966, was also the last time that England won the football World Cup.
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