The Opposition has pounced, claiming Dr Parkinson is laying the ground for a new round of tax increases.
Treasury secretary issues surplus warning
Updated December 14, 2011 10:33:20
Treasury secretary Martin Parkinson says the European downturn is bound to hit Australia's bottom line, and tax receipts will suffer.
While acknowledging Dr Parkinson did not make mention of any new taxes, Mr Hockey said the treasury secretary did mention the difficulty of delivering a surplus.
Treasurer Wayne Swan has made a return to surplus in 2012-13 a central plank of his economic policy.
"The Coalition is concerned that the Government keeps coming back to the Parliament to increase their own credit card limit,
グッチ 財布, which his now approaching $250 billion. And in doing so it is leaving us further exposed to the problems in Europe."
But Mr Hockey asserts that rather than reining in spending, the government is spending - and b