1966: Holiday crowds ignore recession
There was an error
This content is not available in your location.
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 拢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 拢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.
From the 大象传媒 Archives. Originally broadcast 26 August 1966