On Tuesday night, Treasurer Josh Frydenberg handed down his fourth budget.

He promised $8.6 billion in fuel tax cuts and cost of living payments, pushing budget repair into the future as both major parties prepare for a federal election.

The fuel excise will be halved, to 22 cents a litre, for six months, and more than 10 million Australians will get an extra $420 on top of their existing tax cut of up to $1080.

Another 6 million people on income support, including pensioners and those on job keeper, will get a one-off payment of $250.

Economic experts say the measures will go some way to temporarily easing cost of living pressures, but say some of the measures risk adding to inflation.

Today on Please Explain, chief political correspondent David Crowe and senior economic correspondent Shane Wright join Rachel Clun to discuss it.