Labor to back government's power bill help

Federal Labor will back the coalition's energy assistance payment even though it won't be able to amend the bill to extend it to people on the dole.

The payment of $75 for singles and $125 for couples to assist households with their power bills will be paid into the bank accounts of veterans, carers, single parents, aged pensioners and people receiving the disability support pension.

Labor at a caucus meeting on Monday had sought to extend the bill to Newstart recipients but advice since suggests this cannot be amended as it would require additional government appropriation.

The assistance payment is one initiative that will be in the federal budget to be handed down by Treasurer Josh Frydenberg later on Tuesday.

In his first budget, Mr Frydenberg is expected to forecast surpluses in 2019/20 and beyond, the first in 12 years, and a plan to reduce debt over the next decade.

Opposition Leader Bill Shorten told caucus Australians would be told on Tuesday night and in Wednesday's newspapers the budget was a "game changer and a reset" and a stroke of "political genius".

"Liberals will be doing victory laps," he told the meeting.

In contrast, Labor will get down to work as it had done every year.

"This budget we are better prepared than ever before," he said.