WHAT TO EXPECT IN THE ELECTION LEAD-UP

Economists say politicians have little power to affect global forces such as oil prices, shipping costs and supply chain squeezes.

However, there can be tweaks to ease cost pressures or put extra money in people’s pockets and we are likely to see announcements in the March 29 budget and election campaign.

The Coalition is considering cutting beer excise on kegs from $70 to $35 in a measure that would cost $153 million a year, but the government says it does not comment on budget speculation.

Prime Minister Scott Morrison was recently asked about freezing the fuel excise, like the Howard Government did in 2001, but did not directly answer the question. The excise remained at 38.1c until 2015 when indexation returned and this month it rose 0.9 per cent to 44.2c a litre.

Treasurer Josh Frydenberg says the government is providing tax relief to individuals and small businesses, has helped keep electricity prices lower, and is assisting households with lower childcare costs.

Shadow Treasurer Jim Chalmers says Labor’s Powering Australia plan will cut power bills across the National Electricity Market by $275 annually by 2025, and Labor will make childcare cheaper for 97 per cent of families in the system.