A good political budget, if not a reforming one, is former prime minister John Howard's verdict on Joe Hockey's second budget.

Speaking to 2100 Queensland business and industry leaders, Mr Howard said while Mr Hockey's second budget addressed growth issues, it didn't go far enough in reform.

But he said that wasn't surprising, given the on-going fight the Abbott Government has had in getting its first budget passed and the scare Tony Abbott suffered earlier this year from a threatened leadership spill.

"I think Tony Abbott understands the long-term need for change and reform but I do think that the events of the beginning of this year were quite unnerving," he said in Brisbane at the annual PwC post-budget breakfast on Wednesday.