After being overly optimistic with its wage forecasts for years, Federal Treasury is now, according to Labor, predicting that real wages will fall.

In his budget reply speech, Opposition Leader Anthony Albanese said it offered a "low-wage future" and he believed Australia could do better.

"So much better than real wages declining over the next four years after flatlining over the last eight years," he said.

Is it correct that real wages have flatlined for eight years? And will real wages fall over the next four years, according to the predictions in the Federal Budget?

RMIT ABC Fact Check investigates.

The verdict: Mr Albanese is close to the mark.