Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
Malcolm Turnbull says he supports his "friend and colleague" Joe Hockey remaining as Treasurer but has not denied being sounded out by colleagues about potentially taking over the job. .
Fairfax Media reported on Wednesday that some of Mr Turnbull's colleagues raised the prospect of him taking over as the government's chief economic spokesman in December last year.
When asked about the report Mr Turnbull said he would not discuss any private conversation had with colleagues.
"I'm sorry I'm not going to canvass discussions with my colleagues. I'm happy to tell you about what I said, but I'm not going to break the confidence of any of my colleagues," he said.
But Mr Turnbull stressed that he had not sought the job or been offered it by the Prime Minister.
"I have never asked the Prime Minister or suggested to the Prime Minister that he should appoint me Treasurer," he told reporters at Parliament House.
"The Prime Minister has never asked me or suggested to me in any way that he would appoint me Treasurer."
Palmer United leader Clive Palmer said Mr Hockey was not up to the job.
"He's listening to Treasury advice because he doesn't know anything about economics," Mr Palmer said in Canberra.
Crossbench senator David Leyonhjelm called on the government to choose between letting go either the Treasurer or the Prime Minister's chief of staff Peta Credlin, who is accused of being too controlling.
"If Joe Hockey doesn't go, Peta Credlin should go or something substantial should occur to say … 'this is not business as usual'."
I'm not going anywhere: Hockey
But Mr Hockey told Melbourne radio 3AW that he is not going anywhere.
"I am the Treasurer, I will be the Treasurer and I'm going to continue to do the Treasurer's role," he told host Neil Mitchell.
Mr Hockey urged the political class to focus on policy.
"Too many people in this building are playing too much politics and not enough focusing on policy, I want them to play policy … that is a call to arms," he said.
Former treasurer Peter Costello is urging Liberal MPs to stick to their pledge to restore the budget to surplus and has told News Corp that the budget on its current path will "break the country".
Mr Hockey agreed with his predecessor's assessment and warned "If we don't continue to reduce government expenditure we'll never get back to surplus".
The Treasurer said small business would be in line for a tax cut that could be announced earlier than the May budget and said big business would not pay any more than they are currently paying.
But he played down the prospect of further tax increases saying they would cost jobs and hinted cuts to government spending would be the priority.
"I'm trying to get those expenses down and if you increase taxes that starts to cost people jobs, you've got to get the balance right, that's what we're trying to do."
Asked if the 'Age of Entitlement' is over, Mr Hockey responded "it has to be, we have no choice", and pledged a "deeper conversation" with the community about the state of the budget long-term.
