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Morrison in pre-election budget pitch

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Treasurer Josh Frydenberg walks with Prime Minister Scott Morrison outside Parliament House as they make their way to morning TV interviews following the handing down of last night's Federal Budget at Parliament House (AAP Image/Mick Tsikas)

Scott Morrison and Treasurer Josh Frydenberg have hit the post-budget sale trail with a statement of the bleeding obvious.

Theirs is not a Labor budget.

During a string of back-to-back interviews, the prime minister insisted that unlike the Labor Party, he could be trusted to deliver tax cuts to ordinary Australians.

"Labor makes all sorts of promises when it comes to the economy but the record speaks for itself," he told ABC News Breakfast.

The Morrison government will on Wednesday receive support for a package to help millions of pensioners with power bills, after caving to pressure and extending the one-off cash payments to the unemployed.

But the rest of its federal budget - including income tax cuts - will have to wait until after the May poll.

The treasurer insists there is no time to progress $158 billion in tax relief for low- and middle-income earners.

Instead, he will seek a mandate from Australians at the election next month.

This pits his first budget against Labor's promise if elected, to roll out a much bigger tax cut package.

Both sides are promising tax relief, but Mr Morrison said the government's plan was fairer for every taxpayer.

"Labor's tax plan is about taxing some people more to pretend they're providing relief to others; we're providing tax relief right across the board," he told the ABC's Radio National.

He also defended the conservative wages and jobs forecasts in the budget, saying his government had policies that promoted business growth and therefore wages.

"The wages growth is going to come from businesses continuing to expand ... because of the low tax environment we're creating for them," he said.

He said Labor policies, including its latest climate policy with what he called "a reckless emissions target" would only hurt business.

"You keep the economy strong by backing the people who make it strong."

Mr Frydenberg is hoping voters mark up his government for forecasting the first budget surplus in 12 years, including a heaving war chest for road and rail projects.

But Labor says the budget fails to reverse cuts to schools and hospitals and is propped up by an underspend on the National Disability Insurance Scheme.

"All that glitters is not gold," Opposition Leader Bill Shorten told Seven's Sunrise.

"It's a fake budget promise with fake promises."

The budget papers show unemployment flatlining at five per cent over the next four years, despite the government promising 1.25 million jobs over five years.

Wage growth is expected to lift from 2.5 per cent in 2018/19 to 3.5 per cent in 2021/22, but economists are skeptical about the figures.

Budget surpluses totalling $45 billion are expected over the next four years, starting with a $7.1 billion surplus in 2019/20.

The budget avoided the controversial cuts of the past, with Finance Minister Mathias Cormann telling reporters the coalition had already secured $62 billion of savings since the 2016 election.

Mr Shorten is scheduled to deliver his budget reply speech on Thursday night.

© AAP 2019