The government gave a series of different answers as it tried to avoid pointing to the new cost of the tax plan.
The Turnbull government's signature company tax cut will cost an eye-watering $65.4 billion over 10 years from July 1, 2017, the Prime Minister has told Parliament, a $15 billion rise from the initial $50 billion cost.
Turnbull argued that the hefty cost of the initiative didn't matter because the full costs of the package were already factored into the budget's medium-term projections, and the budget was on track to return to surplus.
Both Labor and the Greens have applauded the government's move to tax the big banks 6.2 billion AU dollars over the next four years, but CEO of the Australian Bankers' Association Anna Bligh said the levy would trickle down to affect everyday Australians.
But Labor believes it is not the time to remove the levy given the deficit for 2017/18 is 10 times worse than predicted in the Liberals' first budget.
New taxes, including the levy on the big five banks, and a lift in the medicare levy, will raise nearly $21 billion of new tax revenue over the next four years, and help give the Turnbull government a modest surplus by 2021.
Also, if people fail to show up for appointments, or don't do their best to find work, or are welfare cheats, they may have their payments cut or face financial penalties - "it has to be a two-way street", said Morrison.
"This represents an additional and fair contribution from our major banks, is similar to measures imposed in other advanced countries, and will even up the playing field for smaller banks", he said.
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The Medicare levy will increase by 0.5 percentage points to 2.5% to fund for the National Disability Insurance Scheme, Morrison said. As for the "technical assumption" of above-trend growth in the following 5-year projection period - so as to reduce lingering spare capacity in the labour market - this has been assumed for several Budget rounds now.
"Savers will not have to set up another account, they can just use their existing super account and decide how much of their income they want to put aside to save for their first home deposit".
"We're going to take a little bit of time to look at the implications and say more".
Mr Morrison clarified that to say it was $36.5 billion although he also mentioned the figure $35.6 billion.
Morrison said that Australia's states and territories will only be able to draw on this fund when they deliver on their commitments to train new apprentices.
The analysts were forecasting a $7 billion increase in bank profits for the year ending June 2018, or a 7 percent increase, but noted the levy would drag down that forecast.
The government will also tackle supply issues, unlocking Defence land in Maribyrnong, in Melbourne's west, for 6000 new homes, and crack down on foreign buyers of new developments.
"It is clear it is a tax on earnings", Karara Capital investment manager Rohan Walsh said.
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