Treasurer Jim Chalmers to reveal significant details of the 'Future Made in Australia' budget aimed at enhancing local manufacturing and national security.

The budget will focus on substantial public investment in new industries to promote domestic production, with public funds intended to leverage private investment.

The 'Future Made in Australia' initiative will avoid 'endless spending' and includes amending foreign investment laws to better screen high-risk and expedite low-risk ventures.

Chalmers justifies the spending as essential for both economic and national security, with plans for long-term loans and phased investments to mitigate risks.

The Coalition criticizes the spending level, suggesting Labor is the party of 'big government', though retail data does not support high demand that would contradict efforts to control inflation.

The policy reforms are designed to make Australia an appealing investment destination and to enhance the country's economic and strategic resilience.