Seated next to him on the frontbench, the Infrastructure Minister looked at her watch. And they compared the result.

Proceedings, including continued questions on Kristy McBain's shares offloading, seemed to stretch to this moment. Just waiting for a data point which affected millions of Australians.

The minute ticked over, a rates "dixer" was asked from the backbench, and it was time for Jim Chalmers to deliver the political version of the widely expected: the "very difficult news to a lot of Australians with a mortgage."

The 0.5 percentage point lift. Adding about $200 a month in repayments to a $700,000 home loan.

"The fact that we knew it was coming doesn't make it any easier for people. This is tough. This will tighten the screws on family budgets. This will put more pressure on a lot of Australians who are already stretched enough," Dr Chalmers said.

Those people will calculate that for themselves.

What they want to hear from well-remunerated politicians is what is being done. Tough times are flagged, but for some they are already here.

"It is our job to do what we responsibly can to help Australians deal with these pressures in the near term and to build a much more resilient economy into the future that is able to withstand some of these global and domestic shocks," the Treasurer told Parliament.

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The Albanese government seems stuck in the moment, but is promising help in the October budget. Meantime, the fuel excise cut - the Morrison March budget time bomb - is about to end.

Promised legislation is about to enter parliament to make medicine cheaper and start the process of childcare reform.

But as well, the Prime Minister has warned there are some "very difficult decisions" coming in the budget.

What about those stage three tax cuts that Labor is grimly holding onto that will largely benefit the more well-heeled of the population? The ones that are possibly quite inflationary?

The Greens asked if they are good for the economy.

No short yes or no, but Dr Chalmers pointed out they don't come into effect until July 2024 and Labor wants to focus on "some of the nearer term issues in our economy".

There are growing calls for them to be ditched, which Labor is firmly against, or parked or adjusted.

"I listen respectfully, obviously, to all points of view that are put to us about the future of those tax cuts, but our focus is on some of the nearer term pressures," Dr Chalmers told parliament.

And then "respectfully" went out the window.

"I say this to those opposite - if we had a tax on stupid questions asked by the Member for Hume we could pay off the deficit in one hit," the Treasurer said to roars on the other side.

A day after being hit by a historic low Newspoll result for the Coalition, Liberal leader Peter Dutton has used a Coalition party room rev up to warn Labor about "hubris", while Nationals leader David Littleproud has warned it should prepare for a political version of "hand-to-hand combat".

The Labor honeymoon has been extended. Tough times are ahead for Australia, but what about the government too?