SHADOW treasurer Joe Hockey says the federal election won't be a battle involving big spending promises by the major parties because the "cupboard is bare".
Mr Hockey made the comment in a speech outlining the coalition's fiscal strategy ahead of next week's budget and the September election.
"I want to say this emphatically - we will not be engaging in an spending auction with the Labor party," he told a Master Builders Association function in Sydney on Tuesday.
"The cupboard is bare, there is no money left in the till.
"The coalition is focused on saving money, cutting unnecessary programs, cutting waste and ending mismanagement."
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