With one hand, Treasurer Scott Morrison giveth to the corporate regulator — with the other he taketh away.

Tuesday's Federal Budget handed the watchdog ASIC just under $11 million dollars to deal with the costs of the banking royal commission.

But at the same time, ASIC also lost $28 million in funding and 30 staff.

The government says fluctuations in funding levels are normal but the cuts come as the royal commission shines a light on the industry's seeming disregard for ASIC.

Graeme Samuel is a former chairman of the ACCC and a co-author of the scathing APRA report into the Commonwealth Bank's culture released last week.

He told reporter Ky Chow this budget cut might encourage ASIC to focus more sharply on punishing corporate crime under its new chairman James Shipton.