Pauline Hanson says Labor has delivered a 's**t sandwich' in the Federal Budget 'and we've now got to eat it' - as she outlined her party's economic vision, including allowing couples who raise children to split their income tax. 

The One Nation leader told reporters in Canberra on Thursday that the centrepiece of her economic pitch would be to let couples combine their earnings and divide them for tax purposes. 

That would allow single-income or uneven-income families to slash their overall tax bill at a time when most Australian parents must work. 

'Income splitting means those people who stay home with their children aren't penalised,' Hanson said.

'Why should we force parents into a system where both have to work just to make ends meet?'

One Nation estimates a household with a single $120,000 income could be about $9,500 a year better off if taxed as two $60,000 earners. 

Couples with more balanced incomes, like $120,000 and $30,000, would get a smaller benefit, around $2,000 annually

Hanson said the measure would also cut reliance on government-funded childcare, encouraging more parental care at home.

'Families, mums and dads want that time with their young children,' she said.

'Why shouldn't we encourage that?'

Her comments come after Finance Minister Katy Gallagher reaffirmed government support for childcare participation this week as a way to boost workforce engagement, a stance Hanson openly criticised.

'Stop this mentality of telling people to put their kids into childcare,' she said. 'Don't do that to your children.'

Hanson did not comment on the potential cost of such an income-splitting policy to the Budget. 

As for the Albanese government's Budget - headlined by the abolishing of negative gearing except on new builds and changes to the capital gains tax - Hanson said: 'They've delivered a s*** sandwich, and we've now got to eat it.'

Beyond tax reform, One Nation's economic agenda, outlined in party documents, includes policies for immediate cost-of-living relief, including cutting electricity prices, easing fuel costs, slashing healthcare expenses, and scrapping the beer excise.

Housing policy is another pillar of Hanson's plan. 

She told reporters her party would push to remove GST from the construction of new homes worth up to $1 million for five years, an initiative she claims would cut building costs and boost supply.

Hanson called for a carve-out of GST on construction: 'New builds up to a million dollars, cut your GST out,' Hanson said.

'That's going to help people actually afford to build a home again.'

The proposal is aimed at stabilising the construction sector while making housing more accessible for first-time buyers. 

Hanson also argued it would support tradespeople and small builders struggling with rising input costs.

Hanson further pledged to ease work restrictions for pensioners, allowing older Australians to earn income without sacrificing their benefits.

'Give pensioners the right to work,' she said. 'Why throw them on the scrap heap? Let them work unlimited hours without affecting their pension or healthcare.'

'We can utilise their experience and knowledge,' she said.

Hanson’s renewed focus on economic policy comes as One Nation works to recast its image, positioning itself as a more disciplined and policy‑driven force after years of criticism that it relied heavily on stunts (such as Hanson wearing the burqa) and culture‑war politics.

The shift comes alongside a string of electoral gains, including strong results in South Australia and momentum from its recent byelection win in Farrer, as the party looks to broaden its appeal beyond its traditional base.

Hanson has also signalled One Nation would support calls to introduce a tax on gas exports, following a campaign led by progressive independent Senator David Pocock.

It is understood One Nation believes the policy could bolster their efforts to win over disaffected Labor voters, with the Albanese government ruling out support for the proposal. 

Hanson also accused the Opposition of stealing her policies, claiming Opposition Leader Angus Taylor had 'no vision for the future'. 

'I am the only one who has been speaking about vision for the future, I have been consistent for the past 30 years,' she said.  

Only the Opposition can deliver the formal reply to the federal budget, which was handed down by the Albanese Government on Tuesday.

Taylor is set to deliver that response on Thursday night, with the Coalition expected to push for migration levels to be tied to housing supply and cutting welfare for migrants who are not citizens. 

It will also pledge to block the government’s proposed changes to the capital gains tax discount and negative gearing.