Labor has defended its 10-year economic plan, even as economists warn that it could put Australia's triple-A rating at risk.
Labor would match the Turnbull government in returning the budget to surplus in mid-2021, but shadow treasurer Chris Bowen has conceded it would deliver larger deficits than forecast by Treasurer Scott Morrison between now and then.
He argues that Labor's measures, like changes to negative gearing and capital gearing, will result in bigger surpluses beyond 2021.
Mr Bowen insists Labor has heeded previous warnings from credit rating agencies.
"We will defend the ratings Labor earned ... in the middle of the global financial crisis," he told reporters in Sydney on Thursday.
Mr Morrison said the opposition saying it will "magically" return to surplus after four years of higher deficit and bigger debt reminded him of former Labor treasurer Wayne Swan who promised a surplus 366 times and failed to deliver.
"Chris Bowen is thinking he can play the same trick," the treasurer told reporters in Perth.
Stephen Koukoulas, managing director of Market Economics, says neither side has fast-tracked a move back to budget balance.
Credit rating agencies had issued warnings over the state of the budget in recent months and Labor's plans would add to that anxiety.
"Whether it is enough to push them across the line (for a rating downgrade) ... it's probably not quite yet," Mr Koukoulas told AAP.
That will become clearer when Labor releases its costings.
Mr Bowen said under Labor the budget would improve each year, but the government would have it heading in a different direction because of $50 billion in business tax cuts which he labelled a "ram raid" on the budget.
Business has hit back, saying the cuts will help the economy.
Heads of the Business Council of Australia, Minerals Council, Australian Chamber of Commerce and Industry and the Australian Industry Group have penned a joint statement in response to critics.
"It's not reasonable to expect business to be silent in the heat of an election campaign when there are confusing claims," ACCI chief executive James Pearson told ABC radio.
Labor has said it would support a cut 27.5 per cent from 28.5 per cent but only for small business with a $2 million turnover.
The coalition wants to increase the threshold to $10 billion in the first of a series of cuts over the next decade.
Mr Bowen said he could understand business arguing for a tax cut.
"But mums and dads working in the factory would like a tax cut too, they can't argue for it on the front page of a newspaper and we'll act in the interest of all," he said.
