Details of the 2017 Federal Budget will be released from 7.30 tonight, when the Treasurer begins his speech, and journalists are released from the lockup.

We take a look at what we already know.

Housing

The government may allow first-home buyers to salary-sacrifice contributions for a deposit from before-tax income.

Retirees who sell large family homes to move to smaller homes may be allowed exemptions from new superannuation limits.

A "ghost house tax" is likely to be imposed on investors who leave properties empty, with a particular emphasis on foreign investors.

The government will encourage more City Deals between all levels of government and the private sector to help develop metropolitan areas.

Negative gearing laws will remain unchanged.

Banking

The government is expected to announced the Productivity Commission will conduct an inquiry into competition and concentration within the banking sector.

New superannuation and banking ombudsman could be introduced. 

Infrastructure

The government is expected to announce record infrastructure spending, with major projects including Sydney's Badgery's Creek airport, and the Melbourne-to-Brisbane inland rail.

The government is expected to reveal a $1.6 billion jobs and infrastructure package for Western Australia.

Some government agencies are expected to be decentralised to rural and regional areas.

Read more about anticipated announcements from the budget:

Budget may encourage downsizing with superannuation breaks

Federal government may cap number of investment properties

Affordable housing in, negative gearing stays, says Treasurer