The Federal Opposition has doubted the economic update to be released by the government's Treasury and Finance Departments after the election has been called. Shadow Treasurer Joe Hockey said the Australian Labor government is planning to release pre-emptive budget of its own to influence that statement.

The government has questioned Mr. Hockey on his plans for Australia's finances if he rejects the Treasury Department's projections.

Mr. Hockey said the Coalition will not depend on numbers to frame its policy since the figures can't be trusted. He also accused the Rudd government of trying to influence the Treasury Department to prepare its own economic statement soon.

He said the government is trying to mislead the public with a set of numbers that do not clearly represent the true state of the nation's budget.

Treasurer Chris Bowen felt insulted by the Mr Hockey's assertion. Mr Bowen, a known supporter of Prime Minister Kevin Rudd , said it is an insult to the Treasury and the Department of Finance. He said he was sick and tired of the Opposition trying to destroy the reputation of the Labor government's officials.

Opposition Leader Tony Abbott has agreed with his shadow treasurer. Mr Abbott said that Mr Hockey was only making a point that the Labor government's figures cannot be trusted since they don't turn out to be true, beginning from the first budget.

The Labor government has described the Coalition's statement to not use the pre-election economic and fiscal outlook (PEFO) as the basis for its policy costs. Mr Hockey asserted that the only numbers that the Coalition can trust are the PEFO figures released during the election campaign.

Mr. Bowen shot back by saying the Opposition is softening up the people of Australia for not telling the true story about the Coalition's budget plans.

The Coalition has come under fire during the election campaigns in 2010 for using an accounting firm to do the costing for the party's policies.

RELATED STORIES