Josh Frydenberg has just handed-down his fourth budget, with extra financial support for pensioners, families and a cut to the fuel excise.

The Federal Treasurer has announced a new one-off Cost of Living Payment, which he says will be delivered within weeks to six million Australians.

Pensioners, carers, veterans, job seekers, eligible self-funded retirees and concession card holders will be eligible for the $250 payment.

There will also be a one-off $420 cost of living tax offset for more than 10 million low-to-middle income earners.

Those earning up to $126,000 a year will be eligible.

The fuel excise has been cut in half for the next six months, with Mr Frydenberg saying it would save Australian motorists 22 cents a litre on petrol.

There is also more money for health measures, domestic violence, aged care services, the environment and regional Australia.

Tom Elliott, John Stanley and Scott Emerson joined Brooke Corte on Money News to share their immediate reaction to the budget.

Press PLAY below to hear their analysis and winners + losers!