Anthony Albanese is defending his decision to pump money into long-term investments rather than handouts for struggling families.

The prime minister said short-term rebates and cash injections would hurt Australians in the long run with rising interest rates and inflation. 

“What our commitment does is take that pressure off,” he told reporters in Melbourne on Monday.

Mr Albanese highlighted his plan for cheaper child care, saying it would help both parents and the economy. 

“It also assists in real cost of living relief for working families. That’s why our measures were to pick childcare, cheaper medicines, more affordable housing, getting wages lifted,” he said.

“These are all good policies to make a difference without putting pressure on inflation.”

The government is also doubling down on tax dodgers. 

Assistant Treasurer Stephen Jones said the government was chasing an annual shortfall of more than $33 billion in unpaid tax.

“The vast majority of taxpayers do the right thing but cheating on your taxes is not a victimless crime,” he said.

“It directly impacts funding for vital services from equipping our defence force personnel to caring for our aged.”

The new regulations are expected to claw back $5.7 billion.