Thank you to those who followed this live blog. We hope it was helpful. The double dissolution election will be in 60 days on July 2.

Labor's reaction to the budget:

8.50pm

Meanwhile, the Australian Healthcare and Hospitals Association has said they are disappointed with the extended delay on Private Health Insurance reform

Where was health in the Federal Budget? The Australian Medical Association has condemned continued freezes to Medicare

8.45pm

Watch Leigh Sales interview Scott Morrison:

ABC coverage and analysis of the Federal Budget will continue on ABC News 24 with Leigh Sales

Watch the budget speech:

8.40pm

Read the full transcript of the Federal Budget speech here

8:20pm

Winners and losers of the new budget, read here

Wine industry will be affected by new budget:

8.10pm

Scott Morrison now on ABC with Leigh Sales for his first post-budget interview

Slogan of the budget: Jobs and growth

8.00pm

Budget speech has finished

NDIS savings fund

"Businesses that take on interns will receive an upfront payment of $1000"

Economic plan for growth that will help young Australians get real jobs

7.50pm

Allow low-income earners and women to have better superannuation outlooks

See national coverage here

"Earn more without being taxed more"

From July 1, will increase upper limit for middle-income tax bracket to $87,000

"If we wish to continue to see our living standards to raise ... we need to ensure our tax system encourages investment and enterprise" - Scott Morrison

7.40pm

10 year enterprise tax plan to support small business growth: 27.5 per cent tax for small businesses. Businesses with a turnover of less than $10 million with have access to other benefits

No increase in projected tax burden

"This is not the time to be splashing money around" - Scott Morrison

7.35pm

Deficit predicted to fall to $6 million by 2020.

"When governments make promises with money that's not there, they end up being ether let down or left with the bill" - Scott Morrison promises to keep the budget on track

Aspects to budget:

1) Sticking to plan with jobs and growth (investment in innovation and science agenda, the 'ideas boom', defence industry plan and manufacturing industry, new jobs through exports, new initiative to help vulnerable young people into jobs through real work experience.)

2) Crunch down on tax evasion, and changes to superannuation

3) Continuing to ensure "government lives within its means"

"This cannot be just another budget, because these are extraordinary times" - Scott Morrison

7.30pm

The election is two months away, making this budget critical for the government

Scott Morrison's Federal Budget speech is about to begin

7.21pm

We will be live blogging the 2016 Federal Budget. Hit refresh on this story to get the latest updates.