Josh Frydenberg mocked over $20 tooth fairy admission: 'Out of touch'

Treasurer Josh Frydenberg has been called "out of touch" after he revealed his son received $20 from the Tooth Fairy overnight.

Speaking at the Victorian Chamber of Commerce and Industry on Friday, Mr Frydenberg explained how his morning routine was interrupted by his excited son boasting of his windfall from his first tooth loss.

"I'd like to be in your house!" Victorian Chamber of Commerce and Industry CEO Paul Guerra joked, amid gasps and laughter from the audience.

Sky News political reporter Simon Love shared the revelation on Twitter, prompting disbelief online.

"The tooth fairy pays $20 now? Isn't that half the daily amount of people on the dole?" journalist Nicole Lindsay said.

Amid a period of surging inflation, the Coalition and Mr Frydenberg have stressed they will help Australians with the cost of living if Scott Morrison remains prime minister, pointing to the slashing of the fuel excise as an example of their ongoing assistance to those struggling.

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But the exorbitant amount Mr Frydenberg's son received from the Tooth Fairy has seen the treasurer mocked over his handling of the nation's finances.

"Can't even manage inflation in his own house," one joked.

Several people said Mr Frydenberg was "out of touch".

"Even his tooth fairy is privileged," one person said.

"When I was a kid we didn't have teeth," ABC journalist Tim Callanan joked.

Mr Frydenberg faced off against Shadow Treasurer Jim Chalmers on Wednesday at the treasurers' debate.

He said if Labor wins the election he fears the party will tax more and spend more.

The treasurer is facing a battle for his seat of Kooyong against independent Monique Ryan and told a Sky News forum on Thursday he believes he may be punished by local voters who have taken issue with the Morrison government.

"They may have an issue with something that the Liberal party has said or done, and they want to give us a kick for that, at the end of the day that may not leave me as the local member,” he said.

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