Frydenberg swears govt committed to reform

The Abbott government has been forced to defend its achievements after the head of Australia's only global investment bank accused it of allowing policy to "fall off the table".

Just when the government was trying to get on the front-foot with a renewed focus on the economy after week's of being sidelined over travel entitlements, same-sex marriage and questions over a royal commission, Macquarie Group chairman Kevin McCann let his feelings be known.

Speaking as a panellist at the Australian Chamber of Commerce and Industry's inaugural business leaders summit on Monday, Mr McCann said the government has got to stop lecturing people and try and gain their support with a different narrative.

He also criticised the government's commission of audit for saying the country was busted when the community knew it wasn't.

"Policy seems to have fallen off the table in Canberra," Mr McCann said.

Assistant Treasurer Josh Frydenberg, who was also on the panel, thought the criticism was harsh and unfair, and went on to reel off what his government had achieved - free trade agreements, the roll-out of infrastructure and the implementation of deregulation.

Getting rid of the carbon and the mining taxes was "not a small issue".

"Let's not put up the white flag before we have even started," Mr Frydenberg said.

He insisted the government was committed to a reform agenda.

"I didn't get elected to parliament, I didn't give up a better paying job, I didn't run around seven days a week, 24 hours a bloody day in order not to do anything in this place," he said.

Treasurer Joe Hockey insists that while unfinished, the government's economic plan is working.

He said the creation of 335,000 new jobs since the government came to power is "not an accident".

"Ultimately it is business that employs people (but) government sets the agenda, government delivers on the agenda, and our plan is working," he told parliament.

He earlier told the conference that by next year the free-trade agreements with Korea, Japan and China would create thousands of extra jobs and that would continue to grow each year.

"We will get the unemployment rate down," Mr Hockey said.

However, the impact of his small business-orientated budget hasn't had the immediate impact he might have been hoped.

ACCI's small business survey for the June quarter shows conditions fell for a fourth consecutive quarter albeit moderating in their declines in most areas.