Australia Treasurer Morrison on Budget, Tax Cuts

The video discusses Australia's economic outlook, focusing on the budget deficit, wage growth, and the impact of the mining boom. Treasurer Scott Morrison explains the effects of commodity prices on the budget and outlines plans for tax cuts to boost household income. The discussion also covers the stability of the housing market and the influence of global economic factors, such as currency trends and corporate tax rates, on Australia's economy.

What has been a significant factor affecting wage growth in Australia according to the treasurer?

• Rising unemployment

• Increased government spending

• The mining investment boom

• High inflation rates

How has the Australian government approached the volatility of commodity prices in their budget?

• By increasing taxes on commodities

• By ignoring commodity prices

• By taking a conservative approach

• By relying on high commodity prices

What is the government's goal regarding personal income taxes?

• To eliminate personal income taxes

• To maintain current tax levels

• To lower taxes for middle-income households

• To increase taxes for high-income earners

What is a key factor in maintaining Australia's AAA credit rating?

• Raising interest rates

• Controlling expenditure

• Reducing exports

• Increasing public spending

What measure has been taken to stabilize the housing market in Australia?

• Increasing interest rates

• Changing rules around interest-only lending

• Reducing housing supply

• Increasing property taxes

What is a potential risk to Australia's economic forecast for 2018?

• A decline in tourism

• A significant drop in commodity prices

• Changes in international corporate tax rates

• A decrease in government spending

How has the relationship with China been described in terms of economic risk?

• As a major short-term risk

• As a stable and practical relationship

• As a declining partnership

• As a minor trading partner