Treasurer Jim Chalmers says the budget bottom line is set to improve by $8 billion over the next four years, as he hailed the "progress" made in the first year of the Albanese government's second term.

Treasurer Jim Chalmers says the budget bottom line is set to improve by $8 billion over the next four years, as he hailed the "progress" made in the first year of the Albanese government's second term.