The Latest Breaking News from Jim Chalmers

Shadow treasurer moves to make Labor policy crystal clear after Coalition seizes on ambiguity in Anthony Albanese’s comments

The prime minister has repeatedly denied claims he made a racist comment against pre-selection opponent in 2007 but Labor says nobody believes him.

The opposition is criticising the government’s “giveaway” budget but, predictably, with the election close, is not opposing its cost of living package, which includes a temporary cut in full excise and billions of dollars for low and middle income taxpayers, pensioners and welfare recipients.

With an election looming, Treasurer Josh Frydenberg uses his address at the National Press Club to convince Australians his government's budget is the way forward for the country.

Labor has hit back at the federal government's big-spending budget featuring billions of dollars worth of tax offsets, cash payments and fuel excise relief.

Labor and the Greens have taken aim at Tuesday's budget for trying to buy votes ahead of the upcoming federal election.

Extra tax cut for 10 million low and middle income workers worth up to $420 – while fuel excise will be slashed for next six months

The expectations of Scott Morrison and Treasurer Josh Frydenberg repeating their escape from the political pickle they are in with the budget are low.

Australians will get one-off cash handouts and tax breaks and pay less for fuel under a raft of pre-election sweeteners announced in the federal budget.