Australia's treasurer says the number one priority of his Budget, is easing the cost of living

Jim Chalmers is reporting a 9.3 billion dollar surplus for this year - but anticipates deficits for the next two years.

He's outlined benefits like energy relief for all households and increased rent assistance for welfare recipients.

Chalmers says all 13.6 million taxpayers will get a tax cut - and that for the majority, it will be bigger than under the previous Government.

He says it's about rewarding the hard work of nurses, teachers, truckers and tradies - and the 2.9 million people earning less than 45-thousand dollars a year who would have received nothing.