The finance minister, Mathias Cormann, has rejected suggestions the Morrison government is at odds with the Reserve Bank, saying monetary and fiscal policy are “heading in the same direction”.

Labor is concerned that a split has emerged between the government and central bank over how to best handle Australia’s slowest economic growth since the global financial crisis a decade ago.

“I reject that position. We’re not at odds with the Reserve Bank governor,” Cormann told the ABC’s Insiders program on Sunday.

“Monetary policy and fiscal policy is heading in the same direction.”

Last week the quarterly national accounts showed economic growth slowed to 1.4% in the year to June, raising expectations that the central bank will be forced to cut the official cash rate again, which already stands at a record low 1%.

In a rare interview for a Reserve Bank governor, Philip Lowe told Nine newspapers this weekend he believes the government can do more to generate economic activity, having repeatedly said in recent months that it should not be left to monetary policy, or cutting interest rates, alone.

Cormann said the government has significantly boosted its infrastructure investment pipeline.

“The Reserve Bank governor has said on repeated occasions in the last month or two he expects growth to strengthen into the future, including and in particular because of the continuing high investment in infrastructure,” the minister said.

The government is likely to be questioned on its handling of the economy when parliament sits this week following the long winter break.

Among its agenda items, the government will have another go at passing legislation to trial drug testing of welfare recipients.

The Labor leader, Anthony Albanese, described the issue as a distraction by a government that doesn’t have an agenda to deal with the economy.

He said economic growth has reduced, consumer demand is weak, there is wage stagflation and living standards are not keeping up with the cost of living.

“This is a government that has not got its eye on the main game, it is out of touch, it is not dealing with the economic challenges Australia is facing,” Albanese told reporters in Cessnock, New South Wales.

He had just delivered a speech to the CFMEU memorial day service, which remembers more than 1,800 miners who have lost their lives at work.