Labor has accused coalition MPs of double standards by talking up the impact of the carbon and mining profits tax on the economy while personally investing in mining companies.
The criticism came as Opposition Leader Tony Abbott used job cuts at ANZ Bank and a review of Alcoa's aluminium-making operations to criticise the government for mismanaging the economy and putting jobs at risk.
As a Newspoll showed Labor 10 points behind the coalition in two-party terms, Prime Minister Julia Gillard defended her record, arguing the Australian economy was in a period of adjustment.
"These are days of change, days of pressure," she told parliament.
Mr Abbott, visiting a Queanbeyan window-making business to talk up the impact of the carbon tax, which starts on July 1, told reporters recent downsizing was the "tip of the iceberg when it comes to job losses in the year ahead".
"There are many things the government can control. There are some things the government can't control," he said.
"What I am saying is the government should definitely avoid making the situation worse by loading up our economy with an unnecessary new (carbon) tax."
The coalition in government would take pressure off interest rates by cutting government spending, Mr Abbott said.
But the opposition leader would not commit to a figure on the size of the cuts, which previously have been estimated at between $40 billion and $70 billion.
"I've said all along ... that it is a big task and anything we can identify which is unnecessary or wasteful we will do our best to eliminate," Mr Abbott said.
In a debate on the economy in parliament Labor frontbencher Jason Clare led the government's attack, naming coalition MPs who had recently invested in mining stocks while Mr Abbott talked down the future of the mining sector.
"Follow the money and you find the truth," Mr Clare said.
"The people of Australia expect their government and expect their opposition to have a plan for the future. They expect more than just a stop sign in a suit."
Opposition finance spokesman Andrew Robb, who has been working the corporate boardrooms on behalf of the Liberal Party, told parliament Treasurer Wayne Swan was seen by CEOs as "out of his depth, hapless and a risk to the economy".
"(This is) combined with a prime minister who has no vision, no direction, who cannot be trusted and has absolutely no authority," Mr Robb said.
Ms Gillard earlier in the day launched the National Year of Reading - an initiative to encourage reading and tackle illiteracy.
Speaker Peter Slipper had his first public procession through Parliament House, adding 17th century neckwear to his formal attire.
Mr Slipper started his procession at the reflective pool, located in the centre of parliament and made his way into the House of Representatives behind the Sergeant at Arms.
He was wearing neckwear known as bands - two pieces of cloth fitted around the neck as part of formal clothing worn by clergy, academics and lawyers - and a black gown.
