Prime Minister Scott Morrison is seeking to boost a flagging economy by accelerating infrastructure expenditure.
In a speech at a Business Council event on Wednesday night, he will describe how the Government will respond to "uncertain" economic times.
The package includes bringing forward $3.8 billion in infrastructure spending, including $1.8 billion in the next two years.
"This will support the economy in two ways — by accelerating construction activity and supporting jobs in the near term and by reaping longer run productivity gains sooner," he is expected to say, according to a draft of his speech provided to the ABC.
"Taken together, the Government's actions since the election — legislating the tax cuts, the bring-forward of infrastructure investment and additional drought relief — has provided significant near-term support of $9.5 billion to the economy [over the next two years] at a challenging time."
Some, like Reserve Bank Governor Philip Lowe, have been arguing the economy can't rely on reduced interest rates alone.
In October, Treasury Secretary Steven Kennedy said the economy was growing modestly but stated there was opportunity to bring forward infrastructure spending.
Calls for stimulus
Labor leader Anthony Albanese said he was "pleased" at the announcement, but "we'll wait and see the detail of when it gets rolled out".
"What they need to do is end the uncertainty because one of the issues that is there in the economy is the insecurity people are feeling about work," he said.
"We have wages stagnating, we have economic growth being lowered.
"Every time the interest rates decrease it sends a message the Reserve Bank thinks there's trouble on the horizon."
In his speech Mr Morrison will take aim at those calling for more aggressive economic stimulus.
"A panicked reaction to contemporary challenges would amount to a serious misdiagnosis of our economic situation," he is expected to say.
"A responsible and sensible Government does not run the country as if it is constantly at DEFCON 1 the whole time, whether on the economy or any other issue."
More detail about projects brought forward is expected to be announced today.
