Labor leader Rebecca White's failed list of Liberal projects included the Burnie ambulance superstation, The Cradle Mountain Cableway and the $580 million redevelopment of the Launceston General Hospital.

Ms White said the hospital redevelopment was "the biggest failure", with no Federal funding secured.

"The project is not even close to being fully funded for in this budget," she said.

Ms White said cost of living on many househould expenses was rising twice as fast as wages, home ownership was increasingly out of reach, and rents continued to soar.

She said insurance was up 10 per cent, gas was up 18 per cent, transport up 20 per cent, housing costs up eight per cent and new builds up 20 per cent.

"This is wrecking household finances. I doubt this is what people expected when they voted..., it is not what business owners voted for either," Ms White said.

"Water and power prices are going up and the government has introduced new taxes on every household, and yet support for pensioners and concession card holders was cut in the budget," she said.

"Just 12 months after going to the polls early promising stable government, we instead have chaos and instability, and a new Premier whose weakness and failure of economic leadership leaves Tasmanian households struggling with the cost of living."

Ms White said the government should listen to Brenda, a nurse, who said cost of living had pushed her family to the limit, "the kids suffer the most and we cop the guilt and feel frustrated", and Julie "who goes without so her loved ones can get by".

"The average Tasmanian can afford to buy fewer things with their pay packets than they could in March 2014. This is a disgrace," she said.

"It is even worse if you look at the last four years when the average wage stagnated and are now going backwards at record rates.

"Under the Liberals ordinary Tasmanians have seen their living standards go backwards. This is what weak economic leadership looks like. It is no accident, it is government policy."

Premier Jeremy Rockliff said the budget was putting Tasmania in good shape.

"No Tasmanian is left behind. That is why we are providing support to Tasmanians in need, investing in record amounts in health, housing and education," he said.

Liberal leader of the house Nic Street said Labor's response was lazy.

"Rebecca White's budget reply speech has, once again, offered absolutely nothing - no plan, no alternative budget, and absolutely no idea what she stands for.

"Just like in previous years, Ms White deliberately misled the House on a number of points, at times referring to money that isn't even in the Budget papers and claiming Tasmania's economy is falling behind, despite all the evidence to the contrary."