THE BUDGET - THE CHANCELLOR COMMENTS

The video discusses Selwyn Lloyd's first budget proposals, highlighting the mixed reactions from the public and the impact on car and commercial licences. The Chancellor outlines three main goals: maintaining the value of the pound, introducing new economic adjustment powers, and planning future taxation reforms. The budget includes innovative measures like varying purchase tax and duties, and aims to provide relief for surtax payers while promising future benefits for ordinary wage earners.

What was the general reaction to Mr. Selwyn Lloyd's budget proposals?

• Mixed feelings

• Unanimous approval

• Complete disapproval

• Indifference

What is one of the main goals of the Chancellor's budget?

• Reduce government spending

• Maintain the value of the pound sterling

• Expand the military budget

• Increase foreign investments

What innovative power did the Chancellor propose?

• To increase VAT by 20 percent

• To freeze all taxes

• To eliminate income tax

• To vary purchase tax and duties by 10 percent

Who might benefit from the relief in surtax?

• Everyone equally

• All taxpayers

• Only the wealthy

• Few individuals

What future task involves the lower income groups?

• Increasing their taxes

• Providing them with incentives

• Eliminating their benefits

• Reducing their wages