Ridiculous to impose tax increases: Hockey

Treasurer Joe Hockey won't put a date on when a surplus will be delivered, saying it's all about the trajectory of getting the budget under control.

Treasurer Joe Hockey

Treasurer Joe Hockey.

The Abbott government has been accused of using "weasel words" when it comes to returning the budget to surplus.

Treasurer Joe Hockey insists he has never put a date on returning to the black.

"We just need to show we have a quality trajectory back to surplus and that we are getting the budget under control," he told ABC television on Sunday.

Opposition Leader Bill Shorten says that's "more weasel words".

In opposition, the coalition said it would be back in surplus in one year, that later stretched out to three years and then 10 years, Mr Shorten told reporters in Melbourne.

"Clearly the government has lost control of the budget through its own incompetence and chaos," he said.

Mr Hockey reiterated that his May 12 budget would not be chasing down lost revenue from the steep fall in the iron ore price, but it will be trying to do everything that can be done to speed up the economy and create jobs.

"Clearly, it would be ridiculous for us to impose further significant tax increases on the Australian people ... because that would slow the economy," he said.

He said the government and the Reserve Bank were trying to raise the level of growth.

Labor frontbencher Brendan O'Connor said the government's budget message was "confused and contradictory", resulting in low confidence among consumers and business.

He said Mr Hockey should have been in the cabinet room last week preparing the budget rather than enjoying his jaunt in the United States that included ringing the bell at the end of a trading session on the New York Stock Exchange.

"The treasurer this week looked like the happiest bell ringer since Quasimodo," Mr O'Connor told Sky News.

However, Mr Hockey came away from G20, International Monetary Fund and World Bank meetings in Washington more optimistic about the global outlook.

Europe is now growing stronger, the US is near full employment and China is managing with lower growth, he said.

While there is a looming default in Greece, the Europeans have that in hand and they are "not going to let any troubles in Greece hold back the rest of Europe", he said.


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Source: AAP


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