Treasurer Joe Hockey stood by his economic forecasts

Treasurer Joe Hockey denied the allegations that he padded his economic forecasts in order to strengthen his lobby for quite a large percentage of spending cuts.
Forecasts spoke of the unemployment rate of 6 percent by the middle of 2014. While in general, the prediction for a 2-year span shows lower than the long-run average.

Hockey is being accused by the Union of trying to condition voters in the up coming May budget allocations.

Moreover, Hockey refused to entertain calls for tax increases just to get a better hold of the country's economy.