Federal budget season is in full swing with just over a month to go and the bookies are already backing an improved bottom line when Scott Morrison stands up to presents the nation's finances on May 9.
The treasurer has so far given just a broad outline of what he wants to achieve in his second budget - economic growth, disciplined spending and a package to tackle housing affordability.
He has also confirmed the remainder of his 10-year business tax plan will stay on the books after the passing by parliament last week of a reduction for businesses with a turnover of up to $50 million.
"It is our plan to continue to see that glide path on the tax rate continue out for all the other businesses," Mr Morrison told reporters in Sydney on Monday.
The ACTU says it will campaign against the tax cuts, and Mr Morrison is demanding to know whether Labor would overturn the reduction legislated so far.
If Labor wants to increase taxes on business "they should say so", he says.
He also points out Labor's budget deficit would be even larger taking into account the $4.3 billion of tax cuts.
Labor's costings before last year's election had a short-term deficit some $16 billion bigger than the government's but based on Mr Morrison's tax plan not being passed by the parliament.
"That now means the deficit they would prefer to see is $20 billion more than what it would be under us," the treasurer said.
Shadow treasurer Chris Bowen hit back saying Mr Morrison was obsessed with the Labor party.
"He seems to think that he is still the (NSW) state director of the Liberal party engaging in political games when he is not focused on the job at hand," Mr Bowen told reporters in Sydney.
The next election is at least 18 months away and Labor will make its tax plan clear before then, he said.
Mr Bowen said the treasurer has also been "all at sea" being unable or unwilling to explain the economic benefit of these tax cuts as they stand.
The economy was expected to gain a one per cent lift from the $50 billion tax plan being implemented in full, which suggests it will now be much smaller.
Finance Minister Mathias Cormann also declined to provide a breakdown, saying the parliament has passed the first instalment of the 10-year plan.
"We remain 100 per cent on track to deliver the full plan ... the full benefits for jobs and growth, the full benefit of real wages over time," he told Sky News.
