Joe Hockey's horror script on Budget Treasurer Joe Hockey is expected to outline the mid-year Budget shortly. TREASURER Joe Hockey is about to unleash a horror movie - but he wants others to take the credit. This week or possibly next, he is expected to outline the mid-year Budget and it is sure to be a shocker, with an estimated $40 billion deficit arriving just as Australia reaches its freshly ditched debt ceiling of $300 billion. In the lead-up to the election, Treasury forecast a $30 billion deficit. Since then, the outlook has worsened. Hockey has injected $8.8 billion into the Reserve Bank to bolster its depleted reserves - a clever move that could see more money return as dividends in future. He will want to throw everything into this forecast Budget deficit to maximise his chances of improving the situation and to nail the figure on the previous government. A number even worse than the already blown-out $40 billion could be unveiled, adding to the horror effect. Any hidden revenue shortfalls, dodgy government businesses or program cost overruns will be dragged into the deficit pile to make it appear as bad as possible with Hockey pointing at Labor as the culprits. His chance to outline his fixes will come next May with his first Budget, but there could be some clues as to where the cuts might fall in this statement. It is otherwise a quiet week in business with unemployment figures and business and consumer confidence numbers to be released. It includes Westpac's shareholder meeting, Caltex Australia's full-year profit outlook and Amcor's shareholders voting on spinning off the Australian packaging arm, Orora.