The treasurer is holding his press conference in Canberra – he says he has spoken to the banks, and is pleased to see that they are passing on the rate cuts (scheduled of course).

Of course one of the first questions is around the election.

Chalmers says:

We’ve been in the cabinet suite next door for most of today and most of yesterday preparing for and planning for a budget on 25 March. That’s what we’re working towards. We acknowledge the timing of the election is a matter for the prime minister, in consultation with his senior colleagues. But we’re working towards that budget. That’s why the ERC [expenditure review committee] met for about four or five hours yesterday and another three or four hours this morning.