The economy, cost-of-living and inflation are all playing a key role in the lead up to the federal election.

The latest inflation figures have sparked fresh debate about whether or not the worst is over for Australians.

Shadow Treasurer Angus Taylor told Peter Fegan on 4BC Breakfast the Coalition will be planning to solve the economy, "By reining in wasteful spending that fuels inflation, reducing tax, red tape and control of union bosses over small businesses."

"We won't get distracted by a referendum where we spend 18 months with the Prime Minister thinking and talking about nothing else other than his divisive ideas for Australia."

"Making sure we've got cheaper energy by getting the balance right and affordable homes, by getting rid of the red tape that's making it difficult to build anything in this country," the Shadow Treasurer said.

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