Former prime minister Tony Abbott has issued a challenge to the party leadership to make further budget savings.

Key points: Abbott says it's time for Coalition leadership to "take on savings challenge"

Abbott says it's time for Coalition leadership to "take on savings challenge" Turnbull thanks the former PM for his help

Turnbull thanks the former PM for his help MPs are planning to press for more clarity, especially no negative gearing

MPs are planning to press for more clarity, especially no negative gearing Follow our live blog for the latest political developments

The ABC understands that Mr Abbott addressed the joint party room in Canberra following debate about the Federal Government's tax changes.

Party sources say he told the meeting it was "time for the leadership to take on the savings challenge again" and that Cory Bernardi and Rick Wilson spoke along the same lines.

Mr Abbott has previously defended his economic legacy, following a bad reception to the 2014 federal budget.

Prime Minister Malcolm Turnbull responded to Mr Abbott after his speech, thanking him for his help.

Mr Turnbull said that while some things had changed since he took the leadership, some things had stayed the same.

He also noted that the idea of challenging spending was not a new one.

His comments come amid pressure from Coalition backbenchers for Mr Turnbull to unveil more of his plans for economic reform.

MPs are planning to press for more clarity, especially on negative gearing.

One MP told the ABC earlier this week that "we don't know what is going on".

However a number of politicians spoke today in favour of the lengthier process including Ewen Jones, Andrew Southcott and Russell Broadbent.