The Prime Minister is in Davos attending the three-day World Economic Forum, where he hopes to convince foreign leaders and CEOs of global companies to invest in Australia. Prime Minister Tony Abbott says Bill Shorten is 'cocky' for suggesting he would be a one-term PM. Credit:Andrew Meares Mr Abbott said he was confident the ''toxic'' carbon and mining taxes would be repealed by the time Australia hosts the G20 summit in November. And he's called on the opposition to co-operate with the reforms. ''We've had a bit of talk from the Labor Party about it, wanting to say yes about sensible reforms,'' Mr Abbott said.

''I say to the Labor Party and its leader, if you're serious about co-operating, if you're serious about strengthening our economy and delivering on jobs, show it.'' Opposition Leader Bill Shorten says he can restrict Prime Minister Tony Abbott to one term. Credit:Michael Clayton-Jones Told of Mr Abbott's rebuke, Mr Shorten, who is in Brisbane campaigning for Labor candidate Terri Butler in the February byelection in Kevin Rudd's former seat of Griffith, said he was not cocky to suggest Labor had a chance of winning the next election. "Just how arrogant does Mr Abbott have to be?" Mr Shorten told ABC radio on Wednesday. "The only way he wouldn't have had a go at me is if I said there's no way I can win the next election. "It's not cocky to disagree with Mr Abbott."

Mr Shorten will officially launch Ms Butler's campaign for Griffith on Wednesday night. She is running against the popular local Liberal National Party candidate and former president of the Australian Medical Association, Bill Glasson. To undermine the reputation of Dr Glasson, Labor is trying to link the federal candidate to Queensland Premier Campbell Newman, who Mr Shorten said had slashed the state's health budget. Mr Shorten mentioned Dr Glasson's recent support for the proposal to ask patients to pay a $6 fee every time they visit the doctor. "People in the rest of Australia may not be aware, but the Newman government really has slashed the health system in Queensland," Mr Shorten told ABC radio. "There's red hot anger, I have to say, spending the last four days up on the streets of Brisbane.

Loading "You have to be here to appreciate the level of anger there is by ordinary Queenslanders against the LNP government." Follow us on Twitter