Credit rating not at risk: Shorten

Labor has defended its budget strategy amid concerns its proposed $16.5 billion blowout in the deficit could threaten Australia's triple-A credit rating.

Bill Shorten has dismissed suggestions Labor would put Australia's triple-A credit rating at risk. (AAP)

Bill Shorten has dismissed suggestions a Labor government would put Australia's triple-A credit rating at risk.

Leading economist Saul Eslake has said significantly larger budget deficits - which Labor proposes over the next four years - would put the rating at risk.

"The only party who has had the triple-A credit rating critiqued is the government," Mr Shorten told reporters in the ACT on Tuesday.