Budget MYEFO

Standard and Poors has not downgraded Australia's triple-A (AAA) credit rating, despite a $10 billion deficit blow-out in the mid-year budget update. However the credit ratings agency remains pessimistic about the Turnbull government's ability to improve the numbers as the Treasurer claims the government is still on track to deliver a surplus within five years.

Treasurer Scott Morrison delivers the MYEFO Source: AAP