THE BUDGET

The video covers the first budget of Mr. Hethcote-Amery as Chancellor of the Exchequer. It highlights the importance of the budget and the tradition of the Chancellor appearing cheerful before its announcement. Key proposals include encouraging savings, adjustments to the purchase tax, and significant reductions in cinema tax, aimed at aiding small cinemas. However, the entertainment industry hoped for complete tax relief.

Who is the new Chancellor of the Exchequer mentioned in the report?

• Geoffrey Sumner

• Mr. Hethcote-Amery

• Mr. Thornycroft

• Gladstone

What is one of the key proposals made by the Chancellor in the budget?

• Encouragement to save more from salaries

• Increase in cinema tax

• Tax on wool and cloth

• Introduction of new purchase tax

Which tax was abolished according to the Chancellor's budget?

• Cinema tax

• Gas and electrical equipment tax

• Tax on wool and cloth

• Entertainment tax

How much was the cinema tax reduced by?

• Increased slightly

• Reduced by a quarter

• Reduced by more than half

• Completely abolished

What was the industry's expectation regarding the cinema tax?

• To be completely relieved of the tax

• To maintain the current tax level

• To have the tax increased

• To have a slight reduction