Carbon tax repeal hits budget

The abolition of the carbon tax will cost the federal budget almost $1 billion more than the coalition forecast at the September election.

The carbon tax repeal legislation introduced to the lower house on Monday included a table listing its impact on the budget.

It's now estimated the repeal will take $6.931 billion out of the budget in net fiscal terms, instead of the $6.048 billion projected in the coalition's election costings.

Revenues will fall by $13.7 billion over the forward estimates, but $6.778 billion in spending could be cut from business and energy market compensation, land initiatives and "unnecessary bureaucracies".