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A bizarre tit-for-tat has emerged in the latest stage of the election campaign, with both the Coalition and Labor releasing attack ads focusing on diminutive Lord of the Rings backstabber, Gollum.

The Coalition got the ball rolling with a TV spot overnight featuring a CGI’d Albanese-Gollum (pictured below) speaking as the two halves of the character’s split personality.

“We will tax all of them, so much money,” he says to himself.

“No, no you idiot,” he – well, he responds to himself.

“But I want their money!”

“No, you can’t tell them. It’s the only way we get Precious votes.”

ALP president Wayne Swan said it as “another tired old scare campaign”.

“I don’t know what they’re drinking and smoking over at Liberal HQ,” he told Today.

Well, whatever was in the water, apparently there was plenty to go around.

Labor put up their own Gollum-based attack overnight, posting an image of Gollum with Prime Minister Scott Morrison’s head – but holding a gleaming dollar coin instead of the One Ring.

“Morrison is keeping his precious ($1 an hour pay rise) away from Australian workers,” the caption noted.

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