Tony Abbott's plans to be an infrastructure prime minister will involve further shrinking the number of assets owned by the federal, state and territory governments to achieve it.
An Asset Recycling Fund will be set up to help pay for its $50 billion investment in new infrastructure through to 2019/20 - the biggest in the nation's history and focusing on roads.
Private health fund Medibank has already been slated for a hoped-for $4 billion sale.
Among other assets the federal government said it was investigating selling were the Royal Australian Mint; the registry services of the corporate regulator, the Australian Securities and Investments Commission, plus Defence Housing Australia and Australian Hearing.
"The government is transforming its role to be smaller and as efficient and well-targeted as possible, with some changes informed by the National Commission of Audit's recommendations," it said in budget papers that were marked by massive public sector cuts.
States and territories would be encouraged to sell assets and develop infrastructure too.
They would receive 15 per cent of the price of an asset sold if the sale proceeds go to new infrastructure investment.
The fund will be set up on July 1 with $5.9 billion in funds from the Building Australia and Education Investment funds.
The NSW and Victorian governments are privatising their major ports.
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