Senators argue 'back on track' budget talk

A Liberal government frontbencher has refused to say whether the federal budget will be in surplus this financial year as promised, instead saying the budget is "back on track".

Labor's finance spokeswoman Katy Gallagher reminded a Senate economics hearing on Thursday that Treasurer Josh Frydenberg boasted on budget night last April that the budget was "back in the black".

Senator Gallagher asked Assistant Minister for Financial Services Jane Hume - who was representing the government at the hearing - whether the budget "is back in black".

Quoting the treasurer from parliamentary question time the day before Senator Hume replied: "The budget is back on track."

Senator Gallagher asked whether "back on track" and "back in the black" are the same thing?

"I think you are getting into semantics," Senator Hume said.

Senator Gallagher said it was an important semantic considering the government campaigned on the budget surplus trajectory at last year's election.

"I think we can safely confirm that the budget is back on track," Senator Hume reiterated.

Last April the treasurer bragged of a $7.1 billion budget surplus for the 2019/20 financial year, which would be the first surplus in 12 years.

Then in December he wound back expectations at the mid-year budget review, forecasting a $5 billion surplus.

Earlier on the Thursday, Treasury secretary Steven Kennedy told the committee in Canberra the bushfires and the emergence coronavirus will "undoubtedly have a negative impact on the fiscal position".

The latest budget forecasts will be released on May 12.