A pre-election budget the Albanese government never planned to deliver has turned into a platform for Labor to spin an economic success story from an extremely limited record and agenda.

Promoting the extension and expansion of government subsidies for costs such as childcare, healthcare and energy bills are the major props. With no realistic prospect of another cut in interest rates before the May election and the competition regulator’s inquiry into supermarkets proving a damp squib, the focus will be on showcasing Labor’s direct assistance with the cost of living.