Josh Frydenberg says budget on track to return to balance by 2019-20 after tax receipts $13.4bn higher than expected

A surprise multibillion-dollar increase in tax revenue, and a significant decline in spending on welfare since May last year, have helped the government deliver a smaller budget deficit than forecast for 2017-18.

It is the smallest recorded deficit since the global financial crisis, at $10.1bn.

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Read More Coalition reveals smallest deficit in a decade after decline in welfare spending

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