Federal Treasurer Wayne Swan and opposition treasury spokesman Joe Hockey are to follow their leaders in a head-to-head debate at the National Press Club on August 9.
Mr Swan told reporters that the government had got the big economic decisions right and had a plan to strengthen the economy and take it forward.
"I'm looking forward to contrasting our responsible economic plan and our record on job creation with Mr Hockey's uncosted promises and his record of getting the GFC so badly wrong, including his advice that would have sent Australia into recession," he said in comment released by Labor campaign headquarters.
News that makes sense
Your trusted source for staying up-to-date with the world around you. Get free daily news updates and analysis, straight to your inbox.
That follows taunts from Mr Hockey earlier this week suggesting Mr Swan was unwilling to front up.
"Wayne Swan is running away from me like a rabbit in the headlights," he told reporters.
"If Wayne Swan hasn't got the courage to debate me, how can he look the Australian people in the eye and say he really cares about the economy?"
Mr Swan said he understood some families were still doing it tough despite the good performance of the economy.
"And that's why Mr Hockey needs to explain in the debate why he wants to increase tax on groceries and deny millions of small business a substantial tax break," he said.
"If Mr Hockey can't present fully-costed policies or explain why families should pay more for their groceries, then he'll prove once and for all why he's not up to the job of Treasurer."
