Mr Abbott told interviewer Kerry O'Brien that he sometimes says things in the heat of the moment that are not absolutely correct, but the public can fully rely on his carefully scripted and considered remarks.
"The statements that need to be taken absolutely as gospel truth are those carefully prepared, scripted remarks," he said.
Watch the video in full here.
Mr Abbott was on the defensive this morning as senior Labor figures lined up to put the boot in.
"I'm very happy to let the public look at my record both in Government and in Opposition and compare it with the Prime Minister's record, because the Prime Minister, let's face it, has broken promise after promise," Mr Abbott said.
Liberal frontbencher Ian Macfarlane said Mr Abbott was "very straight, very philosophical" during last night's interview.
"What we are seeing from Tony is very much a straight shooter," he told Sky News, adding that voters should judge politicians on actions not words.
"When it comes to action [Prime Minister] Kevin Rudd just walks away."
Treasurer Wayne Swan was among the senior Labor figures on the attack.
"I think what happened last night was that Tony Abbott cracked under pressure," he told Fairfax Radio in Adelaide.
"He basically said that you can't believe a word he says, and I just don't know where [it] would leave Australia if Tony Abbott was prime minister in the middle of a global financial crisis."
Labor frontbencher Anthony Albanese described Mr Abbott's comments as an "extraordinary admission" that went further than the doctrine of "core" and "non-core" promises espoused by former Liberal prime minister John Howard.
"You can't believe anything that he says," he said.
Mr Albanese said he had never knowingly stretched the truth.
"I have never consciously said something that was wrong and every time I speak I try to tell the absolute truth," he said.
Mr Macfarlane says Labor's criticism of Mr Abbott shows the Government is desperate.
"They have sent a flock of ministers out this morning, they are all running the same line, it has all been rehearsed," he said.
Coalition frontbencher Barnaby Joyce says he does not see any problem with his leader's statement.
.........................................................................................................
Tony Abbott over his "lying is right" comments. Barnaby Joyce is
continuing to make a complete dill of himself if he believes that
this is the appropriate ethical standard for Australian politicians.
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