This is a responsible and restrained Budget which eases cost of living pressures and invests in a Future Made in Australia.

It provides a tax cut for every taxpayer and new help with energy bills, rent and the cost of medicines.

It builds more homes for Australians, reforms our universities, strengthens Medicare and the care economy, and broadens opportunity in our society.

Global economic uncertainty, high but moderating inflation and higher interest rates are contributing to cost of living pressures and combining to slow the economy.

The Albanese Labor Government will invest in a Future Made in Australia plan to bring new jobs and opportunities to communities in every part of our country.

Making our future here in Australia is about making the most of our nation’s potential and making sure everyone shares in the benefits.

Our plan will maximise the economic and industrial benefits of the international move to net zero and secure Australia’s place in a changing global economic and strategic landscape.

TOM ELLIOTT, HOST: Mr Albanese, good morning.

ANTHONY ALBANESE, PRIME MINISTER: Good morning, Tom. Good to be with you.

ELLIOTT: Now, I don't know how much about tonight's Budget you can tell us, but cost of living is the first, second, third and fourth most important thing in people's minds.

PRIME MINISTER: It sure is.

ELLIOTT: What are you going to do to make life easier for all of us?

Welcome back, friends.

And tomorrow's Budget, of course, will be a big night.

And for Jim and Katy and all the team, all the Ministers who've put this together, congratulations.

This will be a night of which you can all be very, very proud.

There will be, of course, two main things that have driven our government for the last two years that we'll celebrate next week.

But tomorrow night - help with the cost of living, the number one priority we have had.

And secondly, though, always having our eye on the future and making our future here in Australia.

National Cabinet met today to discuss housing reforms and agree practical measures to deliver secure and affordable housing to Australians.

First Ministers have bolstered their commitment to critical housing reform measures, by agreeing to sign the new five-year National Agreement on Social Housing and Homelessness, which will commence on 1 July 2024. The agreement reflects a shared commitment to improving social housing and addressing homelessness for Australians.

BRIAN MITCHELL, MEMBER FOR LYONS: Good afternoon and welcome to beautiful northern Tasmania. I'm Brian Mitchell, the Federal Labor Member for Lyons, and I'm joined here today by the Prime Minister, Anthony Albanese, who's flew in for a fantastic announcement. Today we're joined by Federal Housing Minister Julie Collins and Senator Helen Polley, who's based up here in Launceston. This is a wonderful example of what the Albanese Government is all about in terms of addressing the housing and homelessness crisis facing the country.

The Albanese Labor Government will make significant new housing investments in next week’s Budget to help deliver our comprehensive Homes for Australia plan.

The Prime Minister convened National Cabinet on Friday, where Premiers and Chief Ministers backed the following new measures in the Budget to help Australians build, rent and buy:

The Albanese Labor Government is making more critical investments in Tasmanian infrastructure to improve road safety and cut travel times.

In next week’s Budget, we are investing more than $219 million in a roads package for the state.

This will fund over $124 million for new projects, including:

Not long after becoming Prime Minister, I sat down with the Canberra Times and said I intended to be based in Canberra and maximise my time here as much as I could.

The relaxed nature, the ease of getting around, our important and enthralling cultural institutions and the weekend walks up Mount Ainslie or around the lake - when I get time to experience Canberra I see the huge benefits of living in our great national capital.

When residents and visitors move around Tasmania, they move by road.

From the welltrodden Heritage Highway connecting Hobart to Launceston to a scenic day drive through Cradle Country, locals know better than most the importance of good roads.

Last year we lost more than 30 people on Tasmanian roads with more than 300 critically injured. This is not good enough.

We're determined to make Tasmanian roads safer and that's why in Tuesday's Budget we are investing more than $219m to the state's road infrastructure.