Federal Labor has issued Treasurer Joe Hockey a note of advice for his second budget - save wisely and we'll support you.
Politicians are heading to Canberra for the final fortnight of parliamentary sittings before Mr Hockey hands down his second budget on May 12.
His first budget proved highly controversial with its key planks now either dumped or stuck in the Senate, like the pension and university reforms.
Mr Hockey is now putting together his budget against the backdrop of a sluggish economy, high unemployment, falling commodity prices and low confidence.
But the budget still faces big deficits and growing debt.
"If the government proposes sensible savings we're prepared to back them," Deputy Labor Leader Tanya Plibersek told Sky News on Sunday.
She said every dollar the government spends also has to be spent wisely.
But she disagreed with new Treasury secretary John Fraser in a recent speech that Australia had spent its way to a budget deficit, describing it as a "simplistic proposition".
She believes the former Labor government spent wisely during the global financial crisis to save jobs.
She said the budget has also suffered serious revenue writedowns under Labor and also under the coalition.
"Joe Hockey pretends to have just discovered this in the last few months," she said.
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