Report on future basis for budget: Bishop

The May budget will be steered by the findings in the ingenerational report, Deputy Liberal Leader Julie Bishop says.

The latest intergenerational report will be the basis for the government's second budget, deputy Liberal Leader Julie Bishop says.

Australia's changing demographic would put pressure on future budgets.

"Unless we set our budget in the right direction, then the pressure will continue to grow on future generations," Ms Bishop told reporters in Canberra on Tuesday.