Federal Treasurer Jim Chalmers says his budget’s cost of living measures will “take the sting out of” surging inflation, but his opponent, Angus Taylor disagrees.

The focus of the Federal Budget is the $14.6 billion cost of living relief package, aimed at helping households and small businesses to gain a profit while inflation and interest rates remain high.

Shadow Treasurer, Angus Taylor, told Ray Hadley that this Federal Budget has “failed on that test”.

“If you’re a typical family with a mortgage, you’re $25,000 a year worse off than you were a year ago,” said Taylor.

Hear more highlights from The Ray Hadley Morning Show below: