Before entering politics, Josh Frydenberg wanted to be a tennis pro (Image: Supplied)

Josh Frydenberg can see the summit. Ever since he entered politics a decade ago, the treasurer has worn that ambition on his sleeve.

“He will be prime minister,’’ Liberal elder George Swinburne told The Weekend Australian more than a decade ago. It's been a common refrain, repeated by insiders, rivals and journalists ever since.

Now, as he delivers the most important budget in decades, Frydenberg faces the biggest test of a charmed political life, one that will determine whether he can make it to the top.