Budget plan is best for home buyers: PM

Tony Abbott is standing by his treasurer, saying Joe Hockey is just trying his best to do the right thing by Australians and keep the economy on track.

The prime minister disagreed with suggestions Mr Hockey had made another gaffe with his advice to would-be first home buyers that they just needed "a good job that pays good money".

Mr Hockey's "outstandingly" good budget had been the best possible thing he could have done for home buyers because it had lifted confidence, he told reporters in western Sydney.