Federal Labor claims the government has “given up” on budget repair, even though the economy is in a strong position.

This year’s financial blueprint confirms the budget will be back in the black by 2020, although the surplus will be razor-thin.

Debt levels are forecast to peak next year, before starting to fall over the next decade.

Shadow Treasurer Chris Bowen told Ross Greenwood the government isn’t doing enough to tackle debt and deficit.

“The surpluses are too small,” he said.

“It will take years to pay off the debt with surpluses that small.”

Click PLAY below for the full budget special, or go the 1:54:00 mark for the Chris Bowen interview