It's on: Australian election confirmed for May 18

Australian Prime Minister Scott Morrison. Photo / AP file

Scott Morrison has confirmed the Australian federal election will be held on May 18.

Speaking from Parliament House this morning, the Australian Prime Minister finally put an end to speculation over the date.

"We live in the best country in the world," Morrison said. "But to secure your future, the road ahead depends on a strong economy. And that's why there is so much at stake at this election."

He commended his Government for delivering the "first budget surplus in more than a decade", saying the Liberal Party would keep unemployment down, secure borders and guarantee funding for schools, hospitals and infrastructure.

He then took aim at the Opposition, saying: "You will have the choice between a government that is delivering a strong economy and will continue to do so, or Bill Shorten's Labor Party whose policies would weaken our economy.

"It's taken us more than five years to turn around Labor's mess. Now is not the time to turn back. Keeping our economy strong is how we secure your future, and your family's future."

Earlier this morning, Morrison had a brief official meeting with the Governor-General at his house in Canberra.

The timing here is no accident. Morrison has basically given himself total air-time to spruik his party's policies and discuss how his party plans to campaign during the election, while most of the nation is tuning into the morning headlines.

Throughout this morning, every TV channel has been covering the Prime Minister's every move in Canberra.

But the former marketing man has held out until today.

Announcing it this morning guarantees him a bigger space to sell his message to voters.