Mr Hockey has angrily denied the data indicates the government knew its budget would hit the poor the hardest, saying the figures don't tell the complete story.

"It doesn't take into account the fact that higher income households pay half their income in tax and, on average, higher income households fund the benefits that go to an average of nearly four lower income households," the Treasurer told the Nine Network's Today program.

"Every dollar that lower income households receive comes from higher income households," he said, adding the report failed to take into account the range of benefits the poor receive, including cheaper transport, medicines and the pension.

He accused Fairfax of spreading "misinformation" with its report, which he said was "malevolent".

But the shadow treasurer Chris Bowen said the “glass jaw” Treasurer was attacking the media for “daring” to report on the data and said Mr Hockey should be “acknowledging [the] treasury figures show the fundamental unfairness of the budget,” instead.