Treasurer poised to unveil balanced budget

Treasurer Josh Frydenberg is signalling the virtues of delivering a budget surplus, as he holds firm against calls for increased spending to stimulate the economy.

The Morrison government will this week unveil the final budget outcome for 2018/19, which is expected to be in balance.

In a speech to the Business Council of Australia on Tuesday, the treasurer will argue a budget surplus is needed to pay down debt and insulate the economy against global shocks.

"Delivering a budget surplus is never easy but is important because we must always seek to live within our means," Mr Frydenberg will tell the evening function.

"Future generations should not be forced to pick up the tab for the last and by paying down Labor's debt we help build the buffers to guard against future economic shocks."

Shadow treasurer Jim Chalmers is predicting the final budget outcome will show the sixth consecutive deficit under the coalition.

"The government doesn't have anything to crow about here," he told reporters in Canberra.

"Sixth consecutive deficit, underspends in the NDIS, some good fortune rather than good management when it comes to the iron ore price and the low dollar boosting profits and the bottom line."