Prime Minister Scott Morrison has addressed the media, formally declaring the federal election will take place on 21 May.

Mr Morrison visited the Governor-General in Canberra on Sunday morning to advise the date and ask for the 46th Parliament to be dissolved.

“It’s a choice between a strong future and an uncertain one. It’s a choice between a government you know and a Labor Opposition that you don’t,” he told media after the meeting.

“Our government is not perfect — we’ve never claimed to be, but we are up-front and you may see some flaws but you can also see what we have achieved for Australia in incredibly difficult times.”

It follows a social media advertisement released on Saturday by Mr Morrison, signaling the announcement would be made the next day.

Opposition Leader Anthony Albanese was publicly calling on Mr Morrison for days now to announce an election date accusing him of taxpayer-funded pre-election campaigning.

“If I have the honour of serving as your Prime Minister, I can promise you this — I will lead with integrity and I will treat you with respect. I will restore faith in our political system by getting rid of the waste and warts, and establishing a strong anti-corruption commission,” Mr Albanese said in his address on Sunday afternoon.

The polling date allows for a six-week campaign, with some analysts arguing that Mr Morrison had purposefully pushed for a later date to capitalise on the pre-campaign time.

“The longer the Prime Minister gets to go… he proved last time he is a strong campaigner, better for him. Easter is in the middle of it, so they lose a few days there, really, so he needs that time,” ABC’s Fran Kelly said.

According to the latest polls, Labor holds a 55 per cent lead on a two-party preferred vote.

But fronting the media on Saturday, Mr Albanese claimed the underdog status for Labor saying it “has only won government three times from opposition since the Second World War.”

“So, it’s a mountain that Labor has to climb … the government goes into this election as favourites. Governments win and get re-elected much more often than governments change hands in this country.”

In a press conference preceding the call to the election announcement, Mr Morrison spoke of an election campaign that will provide “plenty of opportunity for scrutiny”.

And he made sure to place the focus on the economy, as he did on his first election press conference.

“As the Australian people know, they know it’s not a reality show, it’s not based on who they like or don’t like. They know it’s about the economy they will live in as a result of the decisions that are taken by their government.”

Currently, the Coalition holds 76 seats – the minimum required to govern in its own right – with Labor holding 69 seats.

On the Greek Australian front, Liberal MPs Fiona Martin and Alex Hawke will be running in this year’s federal election to retain their seats, with Maria Vamvakinou and Steve Georganas running for Labor.

Former South Australian senator Nick Xenophon will also run for the Senate as an independent, following his return to politics after a hiatus.