The federal budget delivers a $300 power bill rebate to every household in the country, along with the previously announced tax cuts.

The treasurer says it’s responsible cost of living relief that’ll force the inflation rate down faster than expected.

So, could that lead to earlier cuts to interest rates?

Today, the ABC’s Ian Verrender speaks with Sam Hawley from within the budget 'lock up' where reporters and experts get early access to the government’s economic plan.

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Ian Verrender, ABC Chief Business Correspondent