Australia on Path Back to Surplus, Finance Minister Says

The video discusses the federal budget, focusing on maintaining Australia's AAA credit rating, fiscal discipline, and projections for returning to surplus. It covers the government's plan to reduce corporate tax rates to boost economic growth and the introduction of a bank levy to aid budget repair. The opposition's critique of the budget, particularly regarding tax cuts and education funding, is also highlighted.

What is the government's target for spending as a share of GDP?

• 30%

• 25%

• 15%

• 20%

What is one of the key differences highlighted by the opposition regarding the budget?

• Introduction of new environmental taxes

• Expansion of social welfare programs

• Increase in healthcare spending

• Reduction in corporate tax rate

What is the government's plan for corporate tax rates over the next decade?

• Reduce to 25%

• Eliminate corporate taxes

• Increase to 35%

• Maintain at 30%

Which factor is NOT part of the government's strategy to boost economic growth?

• Increasing tariffs

• Improving access to global markets

• Infrastructure investment

• Corporate tax cuts

What is the purpose of the levy on major banks?

• To reduce consumer debt

• To contribute to budget repair

• To fund new infrastructure projects

• To increase bank profits

How much is the levy on major banks expected to generate annually?

• $10 billion

• $3 billion

• $1.5 billion

• $5 billion

What measure has been taken to prevent banks from passing the levy cost to consumers?

• Reducing bank operating hours

• Introducing new banking fees

• Increasing interest rates

• Excluding day-to-day accounts from the levy