Labor is ratcheting up the pressure on Treasurer Scott Morrison, suggesting his position has become untenable after being denied an increase to the GST and left unable to deliver on his own plans to cut taxes for middle-income families.

Mr Morrison has indicated that individual tax cuts - which he has previously flagged - will not be possible until the budget is in better shape.

Instead, tax cuts for business are on the cards, based on the view of Treasury and economic analysts that these are the only cuts that can deliver a tangible "growth dividend" - Treasury-speak for economic growth and higher employment rates.