Tony Abbott concedes he made life difficult for Joe Hockey when he was putting together his first budget.
In a new biography, Hockey - Not Your Average Joe, the federal treasurer confesses the budget was much softer than he would have liked.
He wanted to make changes to pensions earlier and wanted the deficit levy threshold to be lower to snare more taxpayers.
However, the prime minister, with one eye firmly on the reaction of voters, wanted a more cautious approach.
Mr Abbott told an invitation-only party after Mr Hockey handed down the May budget that this was "Joe's budget".
"My contribution has been to make your life harder than it would otherwise be by making a whole series of pre-election commitments that you've had to delicately tiptoe around," Mr Abbott told his treasurer and those in attendance.
Mr Abbott went on to say that while he had a long way to go to measure up to former prime minister John Howard, Mr Hockey had proved he was a worthy successor to long-standing Liberal treasurer Peter Costello.
But that's where such comparisons end.
The prime minster's chief of staff, Peta Credlin, told the book's author, Madonna King, that Mr Abbott and Mr Hockey were keen not to fall into a Howard-Costello-style leadership rivalry.
Ms Credlin said the treasurer was a contender as a future prime minister.
"He's probably got his head above every other contender, but I think we're a long way away from saying he's an heir apparent - and he'd say that, too," she said.
However, Mr Hockey makes it clear that if the coalition is voted out at the next election, he won't spend another stint in opposition.
"I couldn't do that," Mr Hockey says.
Opinion polls since his poorly received budget suggest such remarks could be put to the test in 2016.
At the book launch in Sydney on Thursday, Mr Hockey said there were things in the book that he wished were not said, and the timing of its release was not ideal.
"But they're said. I in no way apologise for the book," he said.
Shadow treasurer Chris Bowen said the book showed how out of touch with the Australian people Mr Hockey and the government were.
"All we know is ... if he gets his way in future budgets, he'll go even further," Mr Bowen told reporters in Sydney.
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