Treasurer Scott Morrison has provided a few clues about the federal government's upcoming budget in a speech to Australia's business leaders.
In a speech to the Business Council of Australia (BCA) overnight, Mr Morrison said his first budget will focus on keeping taxes low, include policies that would make Australia "more innovative, more competitive and more outward looking" and back infrastructure projects.
This is how the government will drive jobs and growth, the treasurer said.
"But it's also how you strengthen our nation's finances - by supporting the revenue gains that come from growth we have, rather than higher taxes," Mr Morrison told the annual forum dinner on Wednesday night.
Making it easier for companies to do business in Australia is also a part of the government's agenda to create more jobs.
This includes proposed tax breaks that encourage risk-taking, which Mr Morrison flagged in March.
The May 3 budget will also rein in spending, Mr Morrison said.
"Since becoming treasurer, I have been consistent in my view that Australia has a spending problem," he said.
Mr Morrison's speech also forewarned of a budget that Australians need, but might not necessarily like.
"This is the budget that the Australian economy needs now," Mr Morrison told the BCA.
"It doesn't matter when the election is held, this is the budget that we need to deliver."
