Tony Abbott wants his small business package passed by parliament before the winter recess, arguing it is by far the most urgent budget measure.
Faced with a set of national accounts figures later this week that economists believe could see annual growth below two per cent, you could mistakenly think the prime minister's insistence was related to lifting the economic growth fairly swiftly.
But according to Treasury boss John Fraser, the $20,000 instant asset write-off for small business is not primarily about driving economic growth but building up that part of the economy.
During a Senate estimates hearing in Canberra on Monday, opposition frontbencher Penny Wong asked Mr Fraser whether the size of the measure - three times the size of one temporarily introduced during the global financial crisis by Labor - was because the economy was so fragile?
"It's not the primary intent - a macroeconomic restoration measure. It's about building up the small business sector," Mr Fraser replied.
Economists views of a sluggish set of national accounts on Wednesday stem from last week's disappointing business capital expenditure figures for the March quarter.
While there was more positive news on Monday for company profits and business inventories - stock on shelves and in warehouses - economists expect annual growth could have slowed to 1.9 per cent in the year to March from 2.5 per cent in the 12 months to December.
That sluggish pace will keep upward pressure on the jobless rate.
Last week's business investment figures showing a 4.4 per cent fall in the March quarter were also on the low side of Treasury's expectations, particularly on the non-mining side - but not enough to alter its broader economic budget forecasts.
"It would have been nice to have them a little bit stronger," Mr Fraser said.
The May budget forecasts economic growth of 2.5 per cent in 2014/15 and 2.75 per cent in 2015/16, rising to 3.25 per cent in 2016/17.
Acting deputy secretary of Treasury's macroeconomic group Jenny Wilkinson told the hearing that these forecasts are based on growing exports and lower oil prices, interest rates and exchange rate.
"The outlook for the global economy is predicted to improve a little over the next couple of years and that would support a pick-up in growth in Australia," she said.
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