Opposition Leader Peter Dutton has slammed the Albanese government following the release of the federal budget, saying they are “splashing billions of dollars for billionaires”.

Mr Dutton said people are “very critical” of the budget because it is “going to make it harder for families to meet their mortgage repayments, it’s going to make it harder for them to balance their own budgets”.

“When you’ve got a high spending, a high taxing Labor government like the Whitlam government, people pay a price for that,” he told Sky News Australia.

“The government’s broken every promise made … and the government’s splashing billions of dollars for billionaires.

“A lot of Australians rightly will be very annoyed.”