Treasurer Josh Frydenberg is putting the finishing touches on the nation's economic blueprint ahead of delivering his third budget on Tuesday.

Labor is urging the coalition to target record low wages growth and measures to help the two million Australians out of work or not receiving enough hours.

Prime Minister Scott Morrison said protecting jobs from coronavirus incursions was his central focus.

"That is what next week's budget is going to be all about - securing the COVID-19 economic recovery for Australia," he told reporters in Newcastle on Friday.

Mr Frydenberg has signalled a cash splash after resetting his benchmark to begin budget repair at employment falling below five per cent.

The latest jobless figure was 5.6 per cent.

A long list of spending measures has been revealed in the lead up to the budget including $1.7 billion for child care subsidies.

Another 10,000 places will be added to a scheme allowing first-time purchasers to build or buy new homes with a deposit of as little as five per cent.

First-time home buyers will also be allowed to make voluntary contributions of up to $50,000 from superannuation.

The government is expected to announce a major women's safety and economic security package after copping months of political pressure over the issue.

A package worth around $10 billion for the ailing aged care sector has been mooted with the coalition committed to major spending after a scathing royal commission report.

Mental health is slated to receive a hefty funding increase.

Infrastructure will also feature heavily with $1.3 billion already announced for roads in Western Australia.

Regional voters have been targeted with a $600 million disaster recovery agency, $371 million for biosecurity to protect agriculture and $250 million for local projects.

A low and middle-income tax offset is set to be extended for a year but the the third stage of tax cuts is unlikely to be brought forward.

More than $1 billion has been promised for boosting technologies designed to lower emissions through international agreements, hydrogen and carbon capture and storage.

The coalition's gas-fired recovery is also getting $58.6 million to fuel at least four proposed projects.

There is speculation Mr Frydenberg is preparing to dump the JobMaker hiring credit, one of the headline items in October's budget.

The scheme to boost employment for under 35s supported just 1100 jobs despite the government spruiking 450,000 positions.

Skyrocketing iron ore prices are set to boost the government's coffers with economists predicting a deficit of around $60 billion, down from $108.5 billion in the mid-year budget review.

Government debt is edging towards $1 trillion, while the Reserve Bank expects the economy to grow 4.75 per cent over this year and 3.5 per cent in 2022.

The budget is shaping as a critical opportunity for the government to wrest back some political momentum after criticism on multiple fronts.

The usual stream of pre-budget announcements and leaks has been largely swamped by a controversial travel ban on Australians trying to return from coronavirus-ravaged India.

Unions have signalled a campaign for pay rises after many workers accepted wage freezes during the worst of last year's virus-induced recession.

Australian Associated Press