Hasty surplus questionable: ANZ chief

The head of the ANZ bank says it's not necessary for the federal government to deliver a surplus in tonight's budget.

Federal Treasurer Wayne Swan's fifth budget is expected to have a one-point-five billion dollar surplus when it's handed down at 7.30pm (AEST).

ANZ chief executive Mike Smith says while it's no bad thing for the Australian economy to be in black, he questions the haste at which the government was pursuing a surplus.

He says while a surplus is not a bad vision to have but the question is whether it is needed now.

Mr Smith says the government has placed too much emphasis on raising additional income for the surplus rather than on cutting costs.

He says the country needs to have both in order to manage the economy as responsibly as possible.