No change in deficit forecast

The latest Treasury update shows the budget deficit forecast remains at $37.1 billion for 2016/17.

The forecast was included in the Pre-Election Fiscal Outlook released on Friday.

All other key economic indicators for 2016/17 remain the same as in the budget papers.

The economic and fiscal outlook for the commonwealth had "not materially changed since the publication of the 2016/17 budget", the report said.

In an updated statement of fiscal risks, Treasury said there were $18 billion in policy decisions impacting on the five years to 2019/20 which were yet to be legislated.

This includes policy decisions made before the 2016/17 budget which, if passed, would improve the bottom line by around $15.8 billion, as well as $2.2 billion in new policy decisions outlined in the May budget.

The report said the tax commissioner had indicated middle-income tax cuts outlined in the budget would need to be passed by parliament before the change could be incorporated into the income tax withholding schedules.

"As the timing of this is uncertain, there is a risk that some of the revenue cost of this measure will slip from 2016/17 into 2017/18 (improving the 2016/17 bottom line with a commensurate worsening in 2017/18)," Treasury said.