Labor keeps up attack on lagging wages

Labor has maintained its attack on the Coalition's record on wages growth today ahead of tonight's Federal Budget.

Opposition Leader Anthony Albanese in an address to Labor MPs in Canberra attacked the Morrison Government's broken pledges on wage increases.

"[The Federal Government] has made 54 predictions about wages and 52 of them have been wrong. And tonight, of course, I'll have another prediction," Mr Albanese said.

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"But we know that real wages declined by over a per cent in the last year. We know the last budget not that long ago predicted real wages to decline, over the coming four years."

The previous budget update predicted wage growth of 2.25 per cent this financial year but inflation of 2.75 per cent, meaning wages falling in real terms before rising next year.

The Labor party believes voter concern about lagging wages will hurt the Coalition's re-election chances when the national poll is held by May this year.

Mr Albanese also sought to link Coalition policies with stagnating salaries.

"It's part of the design feature and their economic architecture. This is not an accident.

"This is a government that attacks penalty rates, that supports insecure work, supports small business casualisation, that won't even say when we've asked them in the Parliament if they support people getting the minimum wage."

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Earlier today, Labor front bencher Bill Shorten told Today that cost-of-living pressures were a "giant issue" for Australian families.

Mr Shorten, Shadow Minister for Government Services, said he was concerned there will be nothing to tackle lagging wages in the Budget.

"Everything is going up except wages ... the cost of living is getting out of control," he said.

Mr Shorten said Treasurer Josh Frydenberg's priority tonight should be more secure jobs instead of "splashing cash" to woo voters for the Federal Election that must be held by May.

Mr Shorten said he was concerned high government spending would lead to a hike in interest rates, putting more pressure on the cost of living.