New Treasurer Scott Morrison will ditch all international commitments and dedicate himself towards convincing ordinary people of the need for tax reform, which will include incentives to encourage retirees to unlock and spend the billions of dollars locked up in their homes and other assets.

In an interview with The Australian Financial Review, Mr Morrison indicated the government under Tony Abbott had failed to explain to voters why changes to the tax system were needed. He said the reform cause now needed retail politics not another expert tax report.