00:02His fifth budget taking shape. The Prime Minister begins framing the economic message.
00:08Voters can expect that there'll be a budget that's consistent with Labor values.
00:13Working Australians could be rewarded.
00:16News Corp reporting the budget will include a one-off tax cut, or earned income offset, of between $200 and
00:22$300.
00:23And I absolutely love my job now.
00:25Anthony Albanese tight-lipped, but insists his government will keep a lid on spending.
00:30What I can guarantee is that certainly we're very conscious about putting that downward pressure.
00:37$200 isn't going to even touch the sides for most families.
00:40Asked about the prospect of more handouts, the RBA Governor issued a warning.
00:45The extent to which government make up the shortfalls for households by giving them more money,
00:54it makes it harder to dampen demand.
00:57The budget will be handed down one week from today, and it will be a really responsible budget.
01:03In his search for savings, the Treasurer is swinging the axe on a generous tax break for electric vehicles.
01:09Forecast to cost $90 million this year, the hugely popular leasing scheme has cost ten times that.
01:16So it's being phased down, saving the budget $1.7 billion over four years.
01:23It's a save for the budget, but it keeps that support going.
01:26It should be wound back faster immediately now.
01:29Despite the cost, Labor insists its policies are helping fuel the take-up of electric vehicles.
01:36Cost of living has rocketed back to the number one issue for voters, just as it was for much of
01:41Labor's first term.
01:42So today's interest rate rise will only increase the pressure on Jim Chalmers to provide households with a bit of
01:48relief.
01:49But in a way, that doesn't make inflation worse.
01:52So today's interest rate is, at least, between $3,000 and $3,000 in a different direction.
01:53And the awareness rate of restoring them, $3,000 and $3,000 instead of $2,000.
01:53So it's not the priority for that, and this is the standard price to use for people with a big
01:54offer.
01:54In the area where there are more than $5,000 around $4,000 a $4,000.
01:54So we get that more than $5,000.
01:54So we are at $10,000 what's $5,000 if we get the money.
01:54You
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