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AAP
AAP
Business
Jacob Shteyman

FOUND: Budget bottom line in better shape before rates call | Mind Blowing Facts

Reserve Bank Deficit Jim Chalmers Labor
The federal budget deficit has shrunk amid a strong jobs market and higher tax revenue. (Joel Carrett/AAP PHOTOS)

Australia's finances are in much better shape than previously thought but the budget's lucky run is unlikely to last.

A stronger jobs market and higher-than-expected tax revenue have left the federal budget $18 billion better off, capping the biggest nominal improvement to the nation's bottom line in a parliamentary term, Treasurer Jim Chalmers said on Monday.

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