Hockey warns against "reckless" cuts to Government spending

WHILE he will be looking for savings in the coming May budget, Treasurer Joe Hockey has warned against "reckless" cuts to government spending ahead of the G20 Finance Ministers meeting this weekend.

Mr Hockey made the comment on Wednesday, as he prepares for the high-level talks on global growth, infrastructure and labour markets.

As leader of the G20 this year, Mr Hockey will play a key role in the talks, with his message to economic leaders that "complacency will not deliver growth".

He told The Australian that only substantial domestic reform - including freer markets, less regulations, lower taxes and greater competition - would drive growth in the years to come.