The Treasury and Finance heads must rectify the government’s failure to set aside any money for public servant wage increases as voters risk being misled about the true state of Commonwealth finances, budget experts and the Coalition say.

The Australian Financial Review revealed last week that the government had put aside almost no money for rising public sector wages over the next three years even though it had agreed to a deal on increased pay for 185,000 public servants, potentially exposing taxpayers to a $7.4 billion budget blowout.