That's about it from me for the night.
To sum up:
* Treasurer Wayne Swan has delivered his sixth budget;
* it contains an $18 billion deficit but with a plan to break even in 2015/16 and be in surplus in 2016/17;
* the government stuck with its plans to outline funding for education and disability reforms;
* some of the money will come from scrapping the baby bonus and tightening access to family payments;
* the budget didn't get much love.
Thanks, as always, to the fine efforts of Alex Ellinghausen and Andrew Meares and to everyone who joined in the conversation. We'll be back in the morning.
Good night and good luck.
Treasurer Wayne Swan departs the budget lockup. Photo: Andrew Meares
The Greens are declaring the budget will make Australia "weaker, dumber and meaner".
A few more details out of the budget with links to the full stories:
* the cost of asylum seeker policy will be $2.8 billion in 2013/14 alone;
* the cost of cigarettes will go up and a tax offset for medical expenses will be phased out;
* the mining tax will earn even less than the last time it was revealed it would earn less;
* and the carbon price will slide more than expected.
If the punters are to be believed the government's electoral prospects haven't been enhanced by today's budget.
According to Betfair, Labor's odds of winning the next election have blown out from $9.80 to $11 while the Coalition is on $1.10.
Betfair's Daniel Bevan says the only thing punters believe is less likely than a Labor victory is Wayne Swan taking over the leadership. That has odds of $1000.
Inside the sausage factory.
Finance minister Penny Wong talks with a reporter in the budget lock up. Photo: Andrew Meares
Somehow all the television news bulletins managed extraordinarily similar and detailed budget "scoops".
They knew the baby bonus would be scrapped, the details of the transport package and the years in which the government believes the budget will be balanced and back in surplus.
Not to talk down the skills of my gifted television colleagues but that seems a wondrous set of coincidences.
But when other media outlets called the Treasurer's office for confirmation of the details of the story they were told nothing and spun some line about how it wouldn't be fair on the people inside the lock up.
Yeah right.
So much for the government's "new media" approach.
Treasurer Wayne Swan during the budget lock up press conference. Photo: Andrew Meares
Unions still like the government too.
The president of the ACTU, Ged Kearney, was a rare happy face around the halls of Parliament House.
"This is a good budget from a reformist government which balances jobs and growth and fairness and compassion, especially those with disabilities. There is much for workers and their families to be pleased about," Ms Kearney said.
There's nothing like a whole stack of numbers in front of you to produce some confusion.
For Joe Hockey, the budget went from being likened to a magic pudding to an onion in the space of one interview.
Nevermind Wayne, the PM still likes you.
Prime Minister Julia Gillard embraces Treasurer Wayne Swan after he delivered his 2013 budget Photo: Andrew Meares
Mind you, welfare organisations were not happy either. And they already knew they weren't getting what they wanted - an increase in the base rate of the unemployment payment, Newstart.
The chief executive officer of Mission Australia, Toby Hall, wasn't exactly unhappy with the government's decision to allow welfare recipients to earn more money before their payments are affected.
But he wasn't exactly fulsome in his praise either.
"It will do little for the four out of five Newstart recipients who are out of work and living in poverty," MR Hall said. "We regret the government has been unable to begin at least phasing in an increase to the dole over the next few years."
We're starting to see some reaction from the main lobby groups.
Not much love for the Treasurer's efforts yet.
The Business Council of Australia, Jennifer Westacott, was decidely miss-ish.
"This leaves the country with little or no resilience to ongoing budget pressures and future economic shocks. We should have been left in better shape," she declared.
Left in better shape for what or whom?
Ms Westacott couldn't possibly have decided there's no longer any point finding something good to say, could she?
"Cut to the bone" - it's the government's new catch phrase.
It was peppered through Mr Swan's speech, his budget lock up press conference and now in the first of many interviews to sell the budget.
Much of the budget has focussed on the big picture issue of education funding and DisabilityCare (the rebadged national disability insurance scheme).
A lot of the sales pitch will be about choice such as the one Mr Swan mentioned in our 7.44pm post.
The Coalition wants to talk about what a bad job Labor has done in government. Labor wants to talk about its vision for the future hence the emphasis on what it sees as its signature reforms.
Labor believes it can outfox the Coalition with this budget - it wants to dare it to say no to changes to school funding and bedding down DisabilityCare.
Treasurer Wayne Swan during the budget lock up. Photo: Andrew Meares
Opposition treasury spokesman Joe Hockey (or George Clooney as he's known in the Coalition party room as per the 1.55pm post) is not happy.
Mr Hockey says the budget "is in complete chaos".
Mr Hockey sheets it home to the government for the level of debt and "no credible path back to surplus".
He criticises the cuts to family payments but does not say whether or not the Opposition will block them in Parliament.
Mr Hockey is treading carefully - should the polls be right come September 14 these will become his books to manage.
Shadow treasurer Joe Hockey Photo: Alex Ellinghausen
The Sydney Morning Herald's economics editor, Ross Gittins, finds himself quite astonished by the government's election year budget.
He calls it the "weirdest budget you or I are ever likely to see" because it has "loads of nasties and next to no sweeteners".
You can find his analysis here.
Hello middle Australia.
Prime Minister Julia Gillard and Treasurer Wayne Swan Photo: Alex Ellinghausen
Mr Swan has faced many calls to wind back so-called middle class welfare.
Last week the government got some of the bad news out of the way when it announced the increases to family payments that it promised in the 2012 budget would not go ahead.
But there were further cuts tonight.
As of March 1, 2014 the baby bonus will be scrapped but with additional loadings to people who receive Family Tax Benefit part A when they have a new baby.
This is one of the "booby traps" Mr Swan spoke about to journalists in the budget lock up. The government is daring the Coalition to argue against that cut.
Treasurer Wayne Swan and Prime Minister Julia Gillard Photo: Photo by Alex Ellinghausen
Mr Swan says the government was faced with the choice of "radical cuts to the bone that would risk jobs and our economy" or "a sensible, calm and responsible approach that puts jobs first".
Not surprisingly the government went with the latter.
Mr Swan confirms the budget deficit is $18 billion. All things being equal the budget will be balanced in 2015/16 and in surplus by 2016/17.
Treasurer Wayne Swan and Prime Ministern Julia Gillard arrive in the House of Representatives for the budget. Photo: Alex Ellinghausen
And we're back with the "stronger, smarter, fairer" budget.
We've put together a Twitter list following various politicians and interest groups, plus Fairfax journalists who've been in today's lock-up, so yoou can keep an eye on the live reaction to the budget.
I am heading into the budget lock up along with Andrew Meares and Alex Ellinghausen for the next few hours.
We'll be back at 7.30pm (or as near to that time as we can hot foot it out of there) to take you through what's in the budget.
See you soon.
The PM has called time on an unusually short Question Time today.
Must be something else happening.
The Opposition is spending quite a lot of time trying to get the PM to admit that any promises made in tonight's budget won't be kept on the grounds that the government has already dumped the family tax benefit increases promised in last year's budget.
It's a logical tactic.
The government isn't going to give it any such joy but you can't blame it for trying.
This is the Assistant Treasurer, David Bradbury. You might have seen him out and about because the government likes to offer him up as someone it believes is a good communicator of its messages.
Mr Bradbury is having difficulty communicating his own message as the Opposition probes him as to what he told whom about changes to thin capitalisation rules contained in the budget.
Mr Bradbury said it was appropriate to consult giving Christopher Pyne room to jump in and accuse him of leaking information ahead of time.
Anthony Albanese jumps in to defend Mr Bradbury saying he is being "verballed".
Mr Bradbury takes a while to point out he did not give any specific information to any individual stakeholder.
Assistant Treasurer David Bradbury during Question Time Photo: Andrew Meares
The former chief government whip, Joel Fitzgibbon, offers some words of advice to the two new deputy whips, Rob Mitchell and Graham Perrett.
You'll find it a bit easier if you're on the PM's side, he says.
Former chief government whip Joel Fitzgibbon (centre) speaks with new whips Rob Mitchell (left) and Graham Perrett (right) during Question Time Photo: Alex Ellinghausen
If Joe is George Clooney then who does that make me?
Opposition leader Tony Abbott during Question Time Photo: Andrew Meares
Independent MP Peter Slipper (he only lasted about six hours in Clive Palmer's party) is asking the Minister for Infrastructure, Anthony Albanese, about roads.
Mr Albanese looks as if he'd rather take him up on points other than roads' funding.
It's definitely budget day.
"Thin capitalisation," thunders Opposition frontbencher Christopher Pyne.
"Fiscal rectitude" can't be too far away.
As you might expect Mr Abbott is using Question Time to argue the case against the government's economic credentials. As the Treasurer is absent the PM is answering the question.
Mr Abbott reads an old quote from Mr Swan in which he questioned the reliability of ten year forecasts.
Is that the best you can do, the PM scoffs.
"Isn't he embarassed to be so pathetic on budget day," she asks.
Mr Abbott does not appear to be.
Prime Minister Julia Gillard during Question Time Photo: Alex Ellinghausen
Thinking time.
Labor MP Simon Crean during Question Time Photo: Alex Ellinghausen
One of the previously mentioned new backbenchers, Martin Ferguson.
The former attorney general, Nicola Roxon, is seated in front of him. She could give him some pointers.
Labor MP Martin Ferguson during Question Time Photo: Alex Ellinghausen
The leader of the Opposition, Tony Abbott, is noting the death of Margaret Thatcher, "one of the towering giants of modern history".
The Prime Minister, Julia Gillard, refers to the statement she made at the time.
What do you mean you replaced the jelly beans with nuts? (See yesterday's posts 1.31pm and 1.33pm.)
Prime Minister Julia Gillard during Question Time Photo: Alex Ellinghausen
Tony Abbott to the meeting of Coalition MPs: "Joe is the George Clooney of Australian politics."
The eyes have it.
Shadow treasurer Joe Hockey Photo: Alex Ellinghausen
There's been more than a bit of argy bargy about constitutional recognition for local governments at a referendum that the government wants to hold in tandem with the September 14 election. Much of that has been whether the Coalition will support it.
A meeting of the Coalition party room has just wound up at which its position became clearer. Sort of.
The party room agreed that the bills setting out the conditions for the referendum should go through Parliament.
However there will be a provision for "dissentience".
This means MPs who disagree strongly with the referendum proposal will be able to have that opposition recorded. Which in turn means the no case for the proposal will be published alongside the yes case.
Does this matter? Well, yes. History shows referenda are very hard to get up and the ones that do generally have strong bipartisan support.
Today's turn of events means the Opposition is having a bet each way - saying it wants the referendum to go ahead while making sure the no case gets a wide hearing.
Question Time is nearly upon us where you can expect a bit of "But that's my seat" and "Not anymore it isn't".
Former ministers Kim Carr, Chris Bowen and Martin Ferguson will be joining Simon Crean on the backbench (and even he only sat there for a brief moment in the wackiness that was the last sitting day in March).
There's never a day so busy that there isn't time to mention Clive Palmer, business tycoon, dinosaur enthusiast, backer of the Titanic and all round political upstart.
Mr Palmer is in town today meeting with "important people".
He's staying mum on whether or not that includes the Australian Electoral Commission which has erected an administrative hurdle in the path of the Palmer United Party. Something about being too popular.
Breaking news reporter Judith Ireland has the details.
And in a shock move the former prime minister, John Howard, has endorsed the economic management of the Labor government. Kind of.
It seems the Usher of the Black Rod, Brien Hallett, was not happy with the Swan family media opportunity.
The photo shoot is a traditional budget day event but, at the beginning of the year, parliamentary officials brought in new rules regulating photography and filming throughout the entire parliamentary precinct.
Today's photo, apparently, contravened those guidelines even though the event was made widely known by the Treasurer's office.
All the Treasurer wanted was a nice family portrait - that's not too much to ask is it?
Treasurer Wayne Swan and family Photo: Alex Ellinghausen
There's just time for a quick, quiet coffee with the family.
Treasurer Wayne Swan and family Photo: Alex Ellinghausen
The war reference in the 9.07am post might require a bit of context.
It stems from a rev up the government's spin team was given yesterday.
Given the members of said team are largely, shall we say, on the younger side it might have been a bit more effective to show a film made in, like, the 1980s but whatevs.
The Age's national affairs editor, Tony Wright, explains why World War 2 references are appropriate.
All that flicking through papers and walking purposefully along corridors takes a lot of practice.
If you don't get it right the first time, you can always try again.
The sausage factory at work people.
Shadow treasurer Joe Hockey Photo: Alex Ellinghausen
....along with representatives of every media organisation.
Treasurer Wayne Swan poses for the media Photo: Andrew Meares
Here's the Treasurer flicking through the budget papers......
Treasurer Wayne Swan poses for the media Photo: Andrew Meares
Today becomes a bit of a waiting game leaving lots of time for hijinks and shenanigans.
The government has been assiduous at getting a lot of the "bad news" out of the way leaving space for a few good news stories that it would like to dominate the coverage tonight and tomorrow.
In the meantime chief political correspondent Mark Kenny has written a story about how the government will try to use tonight's budget to lock in its DisabilityCare and education reforms over the next decade.
The idea is to protect what it hopes will become its signature reforms from future raiding while also forcing the Opposition's hand on whether or not it really, truly supports DisabilityCare. Nifty, huh?
You can read the full story here.
A little bit of housekeeping while it's on my mind.
DisabilityCare is the new name for the national disability insurance scheme. It is one word as in Medicare.
Mr Swan has already told us what he thinks about when he wakes up in the morning.
Mr Hockey says when he woke up this morning he thought of Mr Swan "laying down a political challenge for the opposition" instead of laying out a proper economic plan for the country.
Shadow treasurer Joe Hockey Photo: Alex Ellinghausen
Basically this week is a duel between Wayne Swan and his opposition counterpart, Joe Hockey.
Shadow treasurer Joe Hockey Photo: Alex Ellinghausen
Only another 10 and a half hours or so to go until I get to give my speech.
Treasurer Wayne Swan arrives for Budget day Photo: Alex Ellinghausen
Okay, back to looking focused and in charge.
What was that World War II film that's supposed to get me going again? Did Bruce do the soundtrack? All I can think of is Apocalypse Now - the horror, the horror.
Treasurer Wayne Swan arrives at Parliament House Photo: Andrew Meares
Dude, don't ruin my purposeful walking shot.
Treasurer Wayne Swan arrives for the budget Photo: Alex Ellinghausen
Treasurer Wayne Swan arrives at Parliament House this morning.
He assures the waiting media pack that when he wakes up in the morning "I think about making our country better and stronger."
Treasurer Wayne Swan arrives for budget day Photo: Alex Ellinghausen
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