The Reserve Bank has confirmed anticipations of interest rate growths. According to the government, the policy positions held by the opposition has added to the rate pressures as it would wipe almost $7 billion off the budget bottom line.

The total changes Labor has made to the family tax benefit system are worth $4.8 billion in savings over the next four years. It included introducing a means test and freezing income threshold.

The means test, banned twice by the preceding Parliament, is set to fail again, but this time in the House of Representatives.

Only Adam Bandt of the Greens is expected to vote for the test. Tony Windsor, Tony Crook, Bob Katter and Rob Oakeshott remain in its opposition. Meanwhile, Andrew Wilkie is yet to decide.

Interest rates would definitely rise, but when the rise will happen is still unsure, according to the Reserve Bank. The minutes of the meeting showed higher rates ''were likely to be required at some point'' to keep price pressures in check.

The economical spending habits of households and the strong Australian dollar would contain some of the pressures, the minutes said, but it is not enough to prevent inflation.

The Treasurer, Wayne Swan, supposed getting the budget back to surplus by 2012-13 is vital in order for the government not to add to the pressures on inflation and rates. He furthered that Coalition intentions to block budget savings measures would risk that surplus target.

Swan accounted that Joe Hockey, the shadow treasurer, must lay down some indications when he gives his budget reply speech to the National Press Club today.

''Hockey has been a dog's breakfast in his response to the budget; he complains the budget isn't tough enough but then complains it's too tough; he complains about deficits, then complains about our savings.
If Hockey did not support the government's measures to make family payments affordable, he will be booking a $5 billion spend and making the Liberals' deficits even bigger,” Swan said.

The changes made by the government to the family payments gave rise to a $4.8 billion savings. It comprised the July 1, 2008 introduction of a $150,000 means test for the family tax benefit B payment and the baby bonus, the freezing of those thresholds in the past two budgets, and the freezing of annual family tax benefit supplements in the last budget.

Tony Abbott, the famed opposition leader, vows to get rid of the means tests if elected. Abott has been unreceptive to the decision in the budget to freeze the supplements and income thresholds for another two years.