Deloitte chief executive Thomas Pippos warns the Government to avoid a "knee-jerk reaction" to tax issues around the Panama Papers and multi-national tax in this week's Budget.

"We certainly don't want to see the Government doing anything precipitous or populist without being thought through," he said. "Clear examples of that

could be some knee-jerk reactions in relation to the Panama Papers or something in relation to the taxation of multinationals that hasn't gone through the proper consultative process."

As it will be this Government's eighth Budget and last before election year it needs to be well balanced, the head of the tax advice and consultancy firm said.

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"We'd like to see a strong sense of consistency with the past but also a strong sense of direction for the future.

Pippos also says he'd like to see the quality of government improved.

"If we extrapolate forward in terms of tax take and spending, largely as a consequence of an aging population, what we're currently doing isn't going to be enough," he said. "The whole quality of spend, or what we call social investment, is something the Minister is quite passionate about, but it needs to be something that is more mainstream for the Government as a whole."