8:01pm: Mr Morrison says the economy grew by almost $40 billion last year.

This makes the growth rate one of the best in the developed world, he says.

7:59pm: "It is worth trying new ways to get young people into jobs," Mr Morrison says of the Youth Jobs Path.

"This is real work for the dole," Mr Morrison says.

Companies will be encouraged to take on interns and young people who take them up will receive an extra $200 a week on top of their welfare payments.

7:55pm: And, as first revealed by Fairfax Media, the government will match Labor's tobacco excise increase with a further four annual increases of 12.5 per cent with the first to take effect in September 2017.

7:53pm: Mr Morrison confirms the government's changes to childcare will now not come into place until the middle of 2018 (they were supposed to come in on 1 July 2017).

7:52pm: But there will be some changes to superannuation that will raise $2.9 billion over four years.

There will be a $500,000 lifetime cap on non concessional super increases. 

96 per cent of people will be better off or not affected by the changes, Mr Morrison says.

A low income tax offset will also be introduced as well as measures to help women build up their retirement incomes.

7:46pm: He confirms that there will be no change to negative gearing.

7:46pm: "This modest tax relief demonstrates that wherever possible we prefer to leave it in your pocket rather than take it for the government," Mr Morrison says.

7:45pm: Mr Morrison confirms that the government will act on bracket creep by raising the upper limit for the middle income tax bracket from $80,000 to $87,000

"We would like to do more but this is what we can afford today," Mr Morrison says.

The carbon tax compensation package brought in was a "tax cut" for people earning under $80,000 a year, Mr Morrison says.

7:42pm: This reduced tax rate will be extended to all businesses over time.

It will drop to 25 per cent in ten year's time.

Mr Morrison says Australia has one of the highest company tax rates in the OECD and the government must do more to help business to ensure living standards continue to rise.

7:39pm: The small business tax rate will be reduced to 27.5 per cent, Mr Morrison announces.

Businesses with a turnover of less than $10 million will be able to access other measures.

870,000 businesses will have their tax reduced, he says.

7:38pm: Mr Morrison says the deficit will fall to $6 billion by 2020.

"Our new spending offsets have been more than offset by our spending restraint," Mr Morrison says.

"This is not a time to be splashing money around or increasing the tax burden on hard working Australians."

7:35pm: Mr Morrison says he will announce a package to help 100,000 vulnerable young people into jobs.

Mr Morrison says he also has superannuation in his sights as well as measures on bracket creep and multi national tax avoidance.

The government wants to make sure that "everyone pays the tax they should...and not avoid tax by shifting their profits offshore".

7:33pm: Mr Morrison says he will announce a "growth friendly" budget that will encourage business growth and the creation of new jobs.

7:32pm: Treasurer Scott Morrison is on his feet for his first budget speech.

The stakes are high - an election is about to be called and Mr Morrison needs to make sure his message gets across.

"This is not just another budget," Mr Morrison begins.

It is a budget for "extraordinary times."

6.23pm: This is what the line of people waiting to get into the budget lock up looks like.

In about an hour it will be an even more desperate scene as people try to get out (which they're not allowed to do until the Treasurer begins speaking).

6:06pm: The budget documents will be tabled in the Senate at 8.30 pm. Once that happens the "particulars of the expenditure", to use formal language, will be forwarded to a committee for investigation.

In other words - the budget estimates committees. They will sit on Thursday and Friday.

I'm not sure what this means for calling of the election given there is a strong rumour around Mr Turnbull may visit Government House on Friday.