World growth reason for better budget: ALP

Labor's finance spokesman Jim Chalmers says good global conditions are supporting the budget bottom line rather than any action the Turnbull government has taken.

The government's monthly financial accounts show the underlying budget deficit for 2017/18 was more than $7 billion better off than expected as of March, boosted by $5.2 billion in additional tax revenue.

"We have really an extraordinary amount of tax revenue rolling through the door now, billions and billions of dollars of new revenue, which has nothing to do whatsoever with any action the government has taken," Dr Chalmers told Sky News on Sunday.