Treasurer Joe Hockey has delayed the federal government's return to surplus by another year, forecasting that the country will be not be in the black until 2019-20 and meaning the Commonwealth will extend its run of seven deficits to 11.

Treasurer Joe Hockey has delayed the federal government's return to surplus by another year, forecasting that the country will be not be in the black until 2019-20 and meaning the Commonwealth will extend its run of seven deficits to 11.