''The Treasury advice is that based on the mess that we have inherited from Labor, that the debt will peak, that gross debt will peak significantly in excess of $400 billion,'' he said. He justified the $500 billion debt ceiling as ''the only way we can be absolutely confident that we will never again have to go to the Parliament''. Prime Minister Tony Abbott takes the chair in the new Parliament. Credit:Alex Ellinghausen While the Pre-Election Fiscal and Economic Outlook document had predicted debt would peak in 2016-17, Mr Abbott's admission suggests the government's efforts to radically reduce expenditure will have made no difference to Canberra's borrowing requirement by the time the next election is due. The Prime Minister attacked a Labor compromise to lift the debt ceiling to $400 billion. ''The last thing that the Labor Party should be threatening is the kind of stand-off in the Parliament that we've seen in other countries over this kind of issue,'' Mr Abbott said at the opening of the 44th Parliament. But under pressure to explain why the Coalition government has asked for an unprecedented debt ceiling at half a trillion dollars, Mr Abbott appeared to acknowledge it was essentially a political move crafted to avoid the need to seek another increase during the 2016 election year.

Shadow Treasurer Chris Bowen said claims of past co-operation by the Coalition were factually wrong and that the case for the rise had not been made. ''We're being responsible, we're offering them an increase of $100 billion which is not a small amount of money and is very reasonable and if they want to increase it further than that, they're going to have to justify it by releasing full economic statements and showing the impact of decisions they've taken since the budget.'' The standoff came as Mr Abbott promised improved standards after the rancour of the previous minority parliament. ''This Parliament will be a different one, and a better one, I hope,'' he told the House of Representatives. Speaker Bronwyn Bishop also pledged to maintain order while acknowledging the House was neither a classroom nor a polite debating society.

Leader of the House Christopher Pyne wrote to Greens MP Adam Bandt on Tuesday advising that changes to the standing orders will be introduced on Wednesday. However a provision granting the sixth question each sitting day to the cross benches will continue. Mr Pyne's office declined to provide further details of the changes fuelling concerns that private members' time and crossbench involvement in committees will be reduced in the Coalition-controlled House of Representatives. Treasurer Joe Hockey has asked for the debt ceiling amendment to be passed by both houses this week. Loading Opening the Parliament, Governor-General Quentin Bryce read a prepared speech from the government listing its first priorities as repealing the carbon tax, the mining tax, cutting company tax rate and not proceeding with Labor's FBT arrangements for leased vehicles. ''This will be an active government, not a big government,'' she said.