Australia can't afford no ABCC: Morrison

Australia can't afford not to reinstate a building industry watchdog, Treasurer Scott Morrison says.

The abolition of the Australian Building and Construction Industry was a productivity killer and job destroyer, he told the National Press Club in Canberra on Wednesday.

"Our economy can't afford the indulgence of union grandstanding on the ABCC and Labor's ... This is an important economic reform that must be passed by this parliament," he said, referencing the government's second attempt to pass legislation.