THE Coalition will use private sector accountants to cost its election policies and will not submit them to a new parliamentary budget office for independent costing, nor to the ''politicised'' federal Treasury.

The shadow Treasurer, Joe Hockey, told the Herald he would make good his threat to boycott the new budget office after the Coalition failed in an attempt to amend legislation to give the office more ''power and independence''.

Shadow Treasurer Joe Hockey. Credit:Fairfax

He said a formal complaint to the Institute of Chartered Accountants about the firm that did the Coalition's costings in the 2010 election was not credible because it had been lodged by a University of Sydney accountancy professor, Bob Walker, who Mr Hockey alleged had been ''a mouthpiece of the Labor Party for my entire life''. The complaint is being investigated.

''What we had last time was the most comprehensive analysis that you could possibly have,'' Mr Hockey said.