Treasurer Scott Morrison has heralded his first budget as an important day for all Australians.
Ahead of its release on Tuesday, Mr Morrison insisted his first budget will be a national economic plan for the country with a focus on jobs and growth.
"Sweeteners won't change the circumstances for the people who are facing difficult times in our economy," he told reporters as he arrived at Parliament House.
Mr Morrison said the difference between the government and opposition was Labor's intention to increase taxes to chase higher levels of spending.
He foreshadowed revenue-raising measures to crack down on multinational tax avoidance and closing off generous superannuation concessions on high-income earners.
"We'll reinvest that back into the productive capacity of our country by ensuring a lower tax burden, particularly for small and medium sized businesses, to ensure we continue to drive growth," he said.
"It's real money that will go to real schools and real students, not the sort of phoney accounting we saw in the union movement that Labor seems to be modelling their approach on."
He insisted the budget will include a clear path towards balanced books.
"You don't get to a budget balance and be able to sustain it by just ramping up taxes and ramping up spending," he said.
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