The Labor and Liberal parties have released the first TV ads of the May 3 election campaign

Anthony Albanese will attempt to convince voters Australia is “turning a corner” in his first TV ad of the election campaign, heralding expansions to Medicare access and cost of living measures including tax cuts and energy rebates.

The Prime Minister has called for patience and a steady hand in the ad to air on Friday evening, telling voters “repairing the economy takes time” but that “Australia is turning a corner in just three years”.

“We are well on the way to building Australia’s future,” Mr Albanese says, noting the opening of 87 free Medicare Urgent Care Clinics and expanded bulk billing so “all Australians can once more see a GP for free”.

The PM also highlights a range of cost of living measures – a key focus of the election – including tax cuts “to every taxpayer” and energy rebates he said would “help ease cost of living pressures”.

“We’ve also halved inflation and got wages moving after a decade of lows, and next term, we will build on these strong foundations,” Mr Albanese said.

“We will cut HECS debt by 20 per cent and make free take permanent, boosting Australia’s skilled workforce and reducing financial pressure.

“We’ll continue the largest housing build in Australian history (and) give another tax cut for every taxpayer and extend energy bill relief.”

The election campaign officially got underway on Friday, with the Mr Albanese flying from Canberra to the battleground state of Queensland after announcing voters would be returning to the polls on May 3.

In his own ad, Opposition Leader Peter Dutton took a noticeably different approach.

The Liberal leader instead called on voters to “get Australia back on track”.

In the video, Mr Albanese can be heard saying “together we begin the work of building a better future”, before cutting to a series of snippets of news clips about cost of living and other economic and social issues, in dispersed with a close-up shot a person starting to cry.

“We live in the best country in the world,” Mr Dutton says soon after in the video.

“But, right now its at a turning point. Too many are having to make sacrifices just to afford the weekly shop and pay their bills.

“This election is a choice about who can help Australians get ahead by managing our economy better.”

Mr Dutton claimed Australia had witnessed the biggest “drop in living standards in the developed world” over the past two years under Labor.

“We must do better, and I am determined that we will do better,” he said.

“The government I will lead will strengthen our economy by reigning in the wasteful spending that fuels inflation.”

Mr Dutton vowed to support small businesses and to “fix” the energy system.

He also said he would make housing more affordable by “funding critical infrastructure”, supporting first home buyers, and restricting foreign investors.

“Let’s get this country back on track, so you can get ahead,” he said.