Labor says budget aimed at saving Abbott

The federal budget is a short-sighted attempt to save Prime Minister Tony Abbott's job, Labor says.

Shadow treasurer Chris Bowen said the deficit had been doubled by the coalition government within one year.

And the worst aspects of last year's budget - the $80 billion cut from hospitals and schools, $100,000 university degrees and cuts to family payments - remain in place.

"The fundamental unfairness of last year's budget disaster remains tonight," Mr Bowen said.

"This is a short-term budget to fix a short-term political problem and save one man's job."

The budget papers included 17 new taxes, breaking a coalition election promise, Mr Bowen said.

Labor has proposed more than $20 billion over 10 years of savings, by ensuring multinational companies pay their fair share of tax and reducing excessive tax concessions for high income earners.