Treasurer brings down federal budget "for future prosperity"

The federal government has used this year's budget to lay out its manifesto ahead of the likely July 2 federal election, with campaigning expected to begin this weekend. The Treasurer is offering tax cuts to small and medium businesses and a modest income tax break for half a million middle-income Australians to bolster the coalition's election hopes and drive the economy. He's also hoping to raise revenue by targeting smokers and welfare cheats.

Treasurer Scott Morrison hands down his first budget Source: AAP