Ed Balls reaction to the budget

The transcript discusses the minimal impact of a one-penny cut on petrol prices amidst high costs. It highlights consumer hopes that savings are passed on and not retained by oil companies. The government's role, particularly George's involvement, is noted, questioning why a previous petrol tax increase wasn't reversed. The speaker urges for a reversal to provide more substantial relief to motorists.

What is the main concern about the one penny cut in petrol prices?

• It will cause a decrease in oil production.

• It will lead to an increase in petrol demand.

• Oil companies might not pass the savings to consumers.

• It will significantly reduce petrol prices.

What role did George play in the petrol price issue?

• He was unaware of the budget implications.

• He increased the petrol prices.

• He was proactive in addressing it.

• He ignored the issue completely.

Why is the timing of George's actions questioned?

• He acted too late after the budget.

• He acted too early before the budget.

• He did not act at all.

• He acted without consulting experts.

What is suggested as a better alternative to the one penny cut?

• Increasing the VAT on petrol.

• Reversing the VAT increase on petrol.

• Introducing a new petrol tax.

• Reducing oil company profits.

What would provide more help to motorists according to the discussion?

• Introducing a new budget plan.

• Increasing petrol prices further.

• Reversing the VAT increase.

• A larger cut in petrol prices.