Hockey says budget focused on growth

Treasurer Joe Hockey says the focus of the federal budget will be driving economic growth.

The federal government has come under fire from Labor and some sections of business and industry for focusing too much on cutting spending at a time when the economy needs more spending.

"The May budget will be focused on growth," Mr Hockey told reporters in Canberra on Thursday.

Fiscal consolidation was part of the government's thinking, but growing the economy was the overall aim.

He said privatisation of some public assets would allow the government to "recycle" vital funds into new infrastructure.

"Governments around the world have run out of money and governments around the world have assets," he said.

"The private sector is loaded up with cash."

Rather than being driven by an "ideological bent", it was about creating jobs, Mr Hockey said.