09/05/2017 8:43 AM AEST | Updated 09/05/2017 8:43 AM AEST

Scott Morrison Says His Budget Is 'Incredibly Practical' And 'Responsibly Optimistic'

ScoMo plans for "better days ahead" -- we'll find out Tuesday night what that looks like.

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Treasurer Scott Morrison prepares to deliver his second Federal Budget.

Treasurer Scott Morrison has promised to deliver an "incredibly practical" economic vision for Australia as he hands down the Federal Budget on Tuesday night.

Morrison, speaking on Tuesday morning ahead of his second Budget -- and the first after the 2016 election -- said he was "responsibly optimistic" of "better days ahead" as he's charged with investing in the future of Australians.

"We've been listening. We understand that while Australia has grown ahead of the large advanced economies in all the world... we understand that not all Australians have felt the experience of that growth personally," Morrison said at a morning press conference.

"Tonight you will see that what the Prime Minister and I and the Government have sought to do is to be incredibly practical."

Morrison's promises of practicality and responsibility have been in line the pre-Budget rhetoric, with Malcolm Turnbull labelling it the "fairness, opportunity and security" Budget.

The Treasurer has talked about "good debt" (eg, infrastructure) and "bad debt" (eg, health and education) investments in this Budget.

Indeed, the Budget will include a significant funding boost for schools; universities subject to an efficiency dividend, meaning student fees will rise, and spending earmarked for the Western Sydney Airport, inland rail and infrastructure projects in WA.

But Labor leader Bill Shorten has accused Morrison and Turnbull of "robbing Peter to pay Paul", with further cuts projected to the foreign aid budget, while $321 million will be invested in growing the Australian Federal Police.

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