Australia's Shadow Treasurer on Rate Cut, Budget Plan

The transcript discusses the opposition's perspective on the recent budget and RBA's interest rate cut. It highlights the opposition's support for small business tax cuts and critiques the government's fiscal management. The focus is on maintaining the AAA credit rating and achieving budget balance through revenue boosting and spending cuts.

What was the primary concern of the Reserve Bank of Australia when it decided to cut interest rates?

• To boost the housing market

• To address concerns about economic activity levels

• To support the stock market

• To increase inflation

Which tax cut does the opposition support according to the second section?

• Tax cut for businesses with turnover less than $1 billion

• Tax cut for businesses with turnover less than $10 million

• Tax cut for businesses with turnover less than $2 million

• Corporate tax cut for all businesses

What is the opposition's view on the government's plan to increase the small business tax threshold to a billion dollars?

• They support it as a good economic move

• They believe it is a reasonable definition of small business

• They find it ridiculous and an excuse for tax cuts for large businesses

• They think it will help in economic recovery

What measures does the opposition propose to address the budget deficit?

• Cutting all government spending

• Introducing new tariffs on imports

• Implementing changes to negative gearing and capital gains tax

• Increasing corporate taxes

How does the opposition plan to stimulate the economy according to the third section?

• By reducing interest rates further

• By building new infrastructure

• By ensuring new properties are built

• By increasing exports

What is the opposition's stance on the baby bonus incentive?

• They propose to increase the bonus amount

• They believe it is unsustainable and should not be reintroduced

• They think it will help increase the birth rate

• They support it as a necessary measure

What is the opposition's approach to achieving budget balance?

• Relying on foreign investments

• Raising taxes across all sectors

• Gradual return to budget balance with structural savings

• Implementing immediate and drastic spending cuts