Former prime minister Tony Abbott's pet projects have been sacrificed by the Turnbull government, as Treasurer Scott Morrison scrambles to find savings to deal with plummeting revenue.

The much-hyped "nannies pilot program", designed to help women return to work after having children, has been cut, with the government slashing the program's 3000 places to just 500, delivering a saving of $170.4 million over two years.

No new applicants will be accepted from early next year, with those already in the program to receive subsidised care until it officially terminates in June 2018. The government blamed lower-than-expected participation for the program's axing.

Likewise, Mr Abbott's Green Army has been confirmed dead, with the government looking to save $224.7 million over the next four years.