Mr Swan said that while his third budget will see "very strict fiscal rules" put in place, there would also be some major reforms announced.
"We will put in place the biggest reforms to Medicare since its introduction."
The government has vowed to deliver a no-frills budget, with spending capped at two per cent in an effort to bring it back to surplus by 2015/16.
The government will also be looking to make savings and "offset" new spending commitments, Mr Swan said.
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Swan claims he'll deliver a tight budget
"There's going to be a very tight fiscal straitjacket for all to see on Tuesday night," he told ABC Radio.
"There will be a shift in focus from fending off recession to building a post-crisis economy."
Opposition treasury spokesman Joe Hockey says the budget will be tight because there's "nothing left in the can to spend".
"Kevin Rudd spent the last surplus, he'll spend the next surplus," he told ABC Radio.
The government is capping spending at two per cent plus inflation, he said.
"They're actually increasing their expenditure by around five per cent."
Finance Minister Lindsay Tanner was playing up the prospect of a no-frills budget.
"We're dealing here with substance, not flim flam," he told ABC Radio.
"I'm not really interested in whether we're put going to put on a song and dance and few gimmicks in the budget."
