The announcement was made by her during a speech to the National Press Club.

"I want this audience to feel all the force of that concern. I most certainly do. It means it can be a struggle to make ends meet and it can seem far harder to get ahead in the post-GFC world," she was quoted as saying by media reports.

Reports suggest that as a part of her agreement with Independent MPs Rob Oakeshott and Tony Windsor, Gillard had agreed to hold the election in either September or October.

In her speech, Gillard highlighted her party's focus on broader economic policies this election year, with the Prime Minister pledging to make the next generation "stronger, fairer, smarter".

"As a generation of Australians, our greatest task, our highest calling, is to build a future of greater shared opportunity and less risk for the next generation," said

Gillard.