Here is the official announcement (which was leaked out last night to Nine Publishing and News Corp. AWKS)

Today the Coalition has released its plan to repair household budgets, and repair the Commonwealth Budget.

In addition to our immediate cost of living relief to households through our fuel tax cut and then our Cost of Living Tax Offset, the Coalition Government will deliver an almost $14 billion improvement to the budget bottom line over the four years to 2028-29 compared to the Pre-election Economic and Fiscal Outlook (PEFO).

As a result of the Coalition’s responsible budget management we will be able to reduce debt by over $40 billion by 2028-29 compared to PEFO.

At the same time, taxes on families and small businesses will be lower under the Coalition’s plan.

While starting the task of budget repair we will continue to support households with a 25 cent a litre cut in the fuel excise, a $1,200 Cost of Living Tax Offset for low and middle income earners and a tax cut for first home buyers.