PM not expecting changes to budget plan

Prime Minister Scott Morrison doesn't expect the federal government will be changing its tune on its plan for a balanced budget by 2019/20.

Prime Minister Scott Morrison

Scott Morrison says the govt won't introduce any new spending without offsetting it with savings. (AAP)

Prime Minister Scott Morrison doesn't expect any change to the government's plans to bring the budget back to balance by 2019/20, followed by a more hefty surplus the following year.

His comments come after the final budget outcome for 2017/18 released on Tuesday showed the government delivered the smallest deficit in a decade, on the back of a bigger tax take and growing economy.

The development prompted speculation the budget could be returned to surplus earlier than planned.

But Mr Morrison expects the government's existing plans will be upheld in its mid-year economic and fiscal outlook to be released in December.

"I don't think there's any reason at this point to suggest that there would be any change to that trajectory," he told ABC Radio on Wednesday.

The prime minister has also confirmed his successor as treasurer, Josh Frydenberg, will be sticking to the government's rule that it can't introduce any new spending without offsetting it with savings.

"They're the budget rules," he said.

Finance Minister Mathias Cormann said the government doesn't plan to reveal any changes to its budget forecasts before the mid-year update.

"We don't provide a running update, we provide an update on budget forecasts twice a year," he told Sky News.


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Source: AAP



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