The Albanese government is flagging help for renters, and increases to JobSeeker, Austudy and Youth Allowance ahead of the federal budget due to be handed down at 7.30pm on Tuesday.
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Treasurer Jim Chalmers' office has released a pre-budget statement without outlining any exact details of the new measures as part of its $14.6 billion cost-of-living package.
The government is promising these cost-of living policies will directly reduce the Consumer Price Index forecast for 2023-24 and not add to broader inflationary pressures in the economy.
Inflation is also forecast to be lower in 2023-24 than from the previous October budget due to the impact of measures to ease cost-of-living pressures.
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The government will also be announcing the first surplus in 15 years, forecast at $4 billion for 2022-23, with smaller deficits over each year of the budget estimates compared to previous forecasts.
Gross debt is expected to peak five years earlier, projected to be almost $300 billion lower by the end of the next 10 years, saving $83 billion in interest.
