Confidence will rebound, Abbott says

Prime Minister Tony Abbott is dangling the carrot of future personal income tax cuts as he battles strident opposition to his government's first budget.

Consumer confidence has tanked in the past month as budget leaks turned into the reality of tax hikes for the rich, co-payments to see the doctor, increases in the fuel excise and less generous family tax benefits.

Mr Abbott believes confidence will rebound as he continues to sell his budget.

"It's the only plan to tackle the debt and deficit disaster," he told Fairfax Radio on Wednesday.

It was also the only plan that maintained Australia's triple-A credit rating and ensured long-term prosperity, he said.

Mr Abbott also believes the government may be in a position to offer tax cuts in its next term, although he's not guaranteeing or promising that.

"The whole point of getting the budget under control is so that we can give tax cuts in the not-too-distant future," he said.