Labor will tell Australians by the end of the election campaign when it plans to have the federal budget back in balance.
Shadow treasurer Chris Bowen made the commitment when he went head-to-head with Treasurer Scott Morrison at the National Press Club in Canberra on Friday.
"We'll include a credible pathway back to balance and the year it would be achieved," Mr Bowen said as he challenged Mr Morrison to do the same.
Labor would also release the costings of its policies out to 10 years.
If the government did the same it would show up the coalition as being "fiscally reckless".
Mr Bowen called on Mr Morrison to admit Australia's triple-A credit rating is under pressure from continued budget deficits and rising government debt.
"Be honest with Australians and acknowledge as others have done that spending measures and spending cuts need to be part of the answer," he said.
