It's official: Australians will have their say on who runs the country in a July 2 poll after the Prime Minister Malcolm Turnbull visited Government House in Canberra this afternoon.
"The choice cannot be clearer at this election. We have an economic plan for growth and jobs," Prime Minister Turnbull said.
"Every single element of it is designed, is calculated, determined, to deliver stronger economic growth and more jobs for Australians."
Mr Turnbull made the short trek from the Lodge to Yarralumla just after lunch time where he met with the Governor-General Sir Peter Cosgrove and asked for a double dissolution election.
"At this election, Australians will have a very clear choice - to keep the course, maintain the commitment to our national economic plan for growth and jobs," Mr Turnbull said.
"Or go back to Labor, with its high-taxing, higher spending, debt and deficit agenda, which will stop our nation's transition to the new economy dead in its tracks."
The Prime Minister used his press conference to make his campaign pitch to voters, highlighting the government's science and innovation agenda.
"Every dollar we can spend in Australia we will. And we will do so by investing in Australian advanced manufacturing, in Australian technology, in Australian science, in Australian industry," Prime Minister Turnbull said.
"It is the most exciting time to be an Australian. These are exciting times." - Prime Minister Turnbull
He also ran through key elements of the budget including a crackdown on multinational tax avoidance, and the governments reduction in corporate tax over a decade.
"Beginning with smaller businesses with a turnover of $10 million or less and then working up so that after 10 years All-Australian companies will be paying 25% corporate tax," he said.
Opposition Leader Bill Shorten says the July 2 election is a choice about what sort of Australia voters want to live in.
Speaking just after Prime Minster Malcolm Turnbull confirmed the date for the double-dissolution election, Mr Shorten asked what sort of Australia people wanted their children to grow up in and what they wanted for older Australians in retirement.
"Will this country be a country that ensures that the fair go is for everyone or that the fair go is just limited to the fortunate few?" Mr Shorten told reporters in Launceston, Tasmania on Sunday.
Mr Turnbull's budget, released this week, planned to reward millionaires with a $17,000 tax cut and provide $50 billion in tax breaks to the country's largest companies, he said.
"It is very important that Australians understand that my opponent's views and those of his party are a real risk to the living standards of all Australians," he said.
He blamed the prime minister for the long 55-day election campaign but insisted Labor was ready with "positive" policies.
Labor's team was united, ready to serve and would put people first, he said.
On the question of campaign debates, Mr Shorten said he was happy to turn up "anywhere, anytime" - even if the prime minister didn't show.
Both houses disolved ahead of marathon campaign
As promised both Houses of Parliament are now dissolved, with all 150 House of Representatives seats, and 76 Senate spots up for election.
The Prime Minister reiterated why he was sending Australians to the polls.
"The Senate has twice refused to pass legislation relating to the accountability of unions and employer organisations."
"Most critically [the Senate] has twice refused to pass legislation to reestablish the Australian building and construction commission," Mr Turnbull said.
Today's election announcement also means politicians now enter an eight week mega-campaign, their longest public winter spruik in history.
An election in early July, however, comes as no surprise and MPs and Senators have already been in the electorates trying to win the public vote.
"I'm confident but not cocky. I strongly believe my best days are in front of me," Deputy Prime Minister Barnaby Joyce said this morning.
A poll indicates the election will be a tight race, with Labor and the coalition locked at 50-50. (AAP) Source: AAP
"That's what our economy needs and it needs to support small and medium-sized businesses in particular, the sort of businesses that I've been visiting for many months now and as a local member of Parliament," Mr Morrison said.
Opinion polls have both Labor and the Coalition at 50-50 but the Opposition needs a national swing of 4.3 per cent - collecting 21 seats - to win government.
"National elections are always tight." Treasurer Scott Morrison
There is no financial impediment to calling this election, after the government moved a supply bill on Monday and it passed in the Senate on Tuesday.
New mums will be able to claim maternity leave from their employers as well as the government scheme if Labor is elected on July 2.
Opposition Leader Bill Shorten announced that Labor will make sure that working mums aren't penalised, just hours before Prime Minister Malcolm Turnbull is expected to visit the governor-general seeking a July 2 double-dissolution election.
'We will reverse the cuts to paid parental leave that Tony Abbott introduced and Malcolm Turnbull locked in in the last budget,' Mr Shorten told reporters on Sunday.
A year ago on Mother's Day former Liberal treasurer Joe Hockey said claiming both schemes was 'double dipping' and the government put forward legislation to limit maternity leave to just one source of income, but that has yet to become law.
Mr Shorten said last week's budget confirmed the government's commitment to a crackdown on paid parental leave 'double-dipping'.
'On one hand, you have Malcolm Turnbull and the Liberals proposing $50 billion worth of tax cuts to large multinationals and you have got the Labor Party stopping the cuts to paid parental leave,' he said.
Labor says under its policy families with new babies will be as much as $11,800 better off than they would be under the Liberals.
A preliminary estimate by the independent Parliamentary Budget Office says it will cost $1.4 billion over the four-year budget estimates.
'Only Labor will make sure that paid parental leave works in the interests of 80,000 mums each year,' Mr Shorten said.
But Shadow Treasurer Chris Bowen says Labor can make tough spending decisions, saying the party would oppose the reintroduction of the baby bonus.
'It's wonderful to get a cheque for $5000 when a baby is born but it's not sustainable, it can't be funded by the tax system as it is,' Mr Bowen told Sky News.
He also said a Labor government would review all tax rates when fiscal circumstances allow.
But in the interim it would not scrap the two per cent deficit levy on high income earners that is due to end next year.
'When fiscal circumstances allow we would review all the tax rates ... but we believe with all the budget pressure, the triple-A rating under pressure, the need to get back to budget balance, taking the deficit levy off when the deficit has tripled is not justified,' he said.
- See more at: http://www.skynews.com.au/news/top-stories/2016/05/08/labor-will-protect-parental-leave-scheme.html#sthash.Ququ4pho.dpuf
Earlier this morning Opposition leader Bill Shorten stressed his underdog status.
"I think this election will be about issues, not personalities. It's not about Malcolm Turnbull or myself. It's about the people of Australia," he said.
Opposition leader Bill Shorten says the election will be fought on the issue of education.
"Our policies are grounded in the everyday experiences of people. That's why, for instance, we're going to make sure that every child in every school gets the proper needs-based funding," Mr Shorten said.
"The best thing you can do to grow our economy and have a brighter future is give our kids the best possible start in life."
New mums will be able to claim maternity leave from their employers as well as the government scheme if Labor is elected on July 2.
Opposition Leader Bill Shorten announced that Labor will make sure that working mums aren't penalised, just hours before Prime Minister Malcolm Turnbull is expected to visit the governor-general seeking a July 2 double-dissolution election.
'We will reverse the cuts to paid parental leave that Tony Abbott introduced and Malcolm Turnbull locked in in the last budget,' Mr Shorten told reporters on Sunday.
A year ago on Mother's Day former Liberal treasurer Joe Hockey said claiming both schemes was 'double dipping' and the government put forward legislation to limit maternity leave to just one source of income, but that has yet to become law.
Mr Shorten said last week's budget confirmed the government's commitment to a crackdown on paid parental leave 'double-dipping'.
'On one hand, you have Malcolm Turnbull and the Liberals proposing $50 billion worth of tax cuts to large multinationals and you have got the Labor Party stopping the cuts to paid parental leave,' he said.
Labor says under its policy families with new babies will be as much as $11,800 better off than they would be under the Liberals.
A preliminary estimate by the independent Parliamentary Budget Office says it will cost $1.4 billion over the four-year budget estimates.
'Only Labor will make sure that paid parental leave works in the interests of 80,000 mums each year,' Mr Shorten said.
But Shadow Treasurer Chris Bowen says Labor can make tough spending decisions, saying the party would oppose the reintroduction of the baby bonus.
'It's wonderful to get a cheque for $5000 when a baby is born but it's not sustainable, it can't be funded by the tax system as it is,' Mr Bowen told Sky News.
He also said a Labor government would review all tax rates when fiscal circumstances allow.
But in the interim it would not scrap the two per cent deficit levy on high income earners that is due to end next year.
'When fiscal circumstances allow we would review all the tax rates ... but we believe with all the budget pressure, the triple-A rating under pressure, the need to get back to budget balance, taking the deficit levy off when the deficit has tripled is not justified,' he said.
- See more at: http://www.skynews.com.au/news/top-stories/2016/05/08/labor-will-protect-parental-leave-scheme.html#sthash.Ququ4pho.dpuf
“The Greens head into this election proud to have led the debate for a more equal society - one that ensures that multinational corporations pay their fair share so we can raise the revenue we need to fund our schools, hospitals and support for our community’s most vulnerable people," Greens Leader Richard Di Natale said.
- Additional reporting by AAP
