The Gillard Government remains adamant that it will realise a budget surplus by 2013 despite a new report that suggested a likely cooling down of the Australian economy in the immediate aftermath of the ongoing mining boom.

Deloitte Access Economics said on Monday that the resource industry will soon reach the zenith of its boom and the possibility of an ensuing struggle after episodes of joy could soon overwhelm the local economic settings.

In a response, the Coalition said Deloitte makes completes sense when it hinted that in order for Prime Minister Julia Gillard and Treasurer Wayne Swan to actually the savings of about $1.5 billion next year, they need to implement more cuts than what were already laid out in the budget presented in May.

Clearly there would be a problem in delivering a surplus in light of the restricted revenues from which federal authorities could source the hard cash, most especially if national benefits from mining projects started drying up, Deloitte's Chris Richardson said in the report.

"(The Treasurer) have had to cut further to reach a 2012/13 surplus," Mr Richardson was quoted by the Australian Associated Press (AAP) as saying in the report.

It would have been a more ideal set up had the government allowed private sectors to shoulder infrastructure spending, the report lead author added, but in an interview with ABC, he admitted that "when businesses do the spending, you don't get extra taxes, you get extra tax deduction."

Shadow Treasurer Joe Hockey said he was not surprised at all that the government will encounter difficulties in actually presenting a surplus by next fiscal year because it "has has built a budget that is wholly captive to the mining boom."

"The budget is unravelling because it was built on smoke and mirrors ... and the budget is unravelling because it was built on smoke and mirrors," Mr Hockey told reporters in Sydney.

Also, Opposition Senator Mitch Fifield told Sky News that what was presented by Mr Swan in May never really caught on with the Coalition, stressing that "this budget shouldn't be just in surplus, this budget should be strongly in surplus."

Mr Swan, according to Mr Richardson, will be grappling with too many difficulties in order to make true his promises.

However, those pledges will be fulfilled as Trade Minister Craig Emerson told ABC on Monday that "we are returning the budget to surplus."

The conditions outlined in the Deloitte report - the fluctuating commodities prices, a plunge in the housing sector and a slow down in the financial markets - have been foreseen and included when the government issued its calculated budget surplus declarations.

On her part, Ms Gillard read the Deloitte assessment as a report that is "actually called the glass is half full, so it is reinforcing the strength of the Australian economy."

"The budget will return to surplus," AAP reported the prime minister as saying, dismissing any notions that contravene to what the government has presented in the May budget.

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