Turnbull sets out what is 'fair'

Malcolm Turnbull says fairness will be at the heart of any economic reform delivered by his government.

The prime minister told the ABC's 730 program, in an interview to air on Thursday night, any changes to tax or spending will be looked at in terms of whether they are "equitable right across the community".

The government's first major step down the track of economic reform will be the innovation statement to be released within the next fortnight.

"What is fair is basically a set of measures that are consistent with our commitment to a more competitive, productive, innovative society and are also consistent with Australia's strong egalitarian fair-go culture," Mr Turnbull said.

He said the Australian people were good gauges of what is fair.

"If it is not fair it won't get the public support it needs to be successful."