Chancellor George Osborne and shadow chancellor Ed Balls have set out their competing messages in Sunday newspaper columns ahead of the Budget.
Writing in the Sun on Sunday, Mr Osborne pledges to build what he calls a "resilient economy".
Mr Balls, in the Sunday Mirror, says millions of people are not feeling any benefit from economic recovery.
In Wednesday's Budget, the chancellor is expected to present a message that the recovery is under way.
"Start Quote
End Quote George Osborne Chancellor of the ExchequerWe must not repeat what even the Labour politicians responsible now admit were the terrible mistakes..."
But he will also warn that the job is "very far from done", and announce more details of his plan for a cap on parts of the welfare budget.
'Terrible mistakes'In his column, Mr Osborne says he believes in being "upfront with people" and warned that "Britain is still borrowing too much".
He warns that the UK must "invest more in export", but also says that the progress made so far means that families already have more security and a greater peace of mind.
He writes: "The government's long-term economic plan is providing stability by dealing with our record debts. And the plan is helping businesses create new jobs at record rates.
"What this means for families is more security and peace of mind. My Budget next week will set out what we must do to build a resilient economy.
"Start Quote
End Quote Ed Balls Shadow chancellorWe can all expect George Osborne and David Cameron to try to claim everything is going well. But that's totally out of touch..."
"We must not repeat what even the Labour politicians responsible now admit were the terrible mistakes of the past that got Britain into this mess."
Mr Balls challenges these claims, writing: "We can all expect George Osborne and David Cameron to try to claim everything is going well.
"But that's totally out of touch when millions of working people on middle and lower incomes are not feeling any recovery at all."
Mr Balls' proposals include freezing energy bills until 2017 and cutting taxes for working people on middle and low incomes.
He also says he wants to expand free childcare to 25 hours a week for working parents of three and four-year-olds and introduce a back-to-work scheme for young people, paid for by taxing bank bonuses.
'Benefit taxpayers'Meanwhile, Liberal Democrat Chief Secretary to the Treasury Danny Alexander has hailed rises in the personal tax allowance - and said this was more important than changing the 40p tax threshold.
Writing in the Mail on Sunday, he said: "I made it clear at our spring conference last week that further rises would be a top priority for our party in any negotiations that might be required should the British people deliver a hung parliament.
"We aspire to raise it substantially to £12,500."
He also said the Lib Dems were committed to sticking to the plan to eradicate the deficit and get the nation's finances on a firm footing by 2018-19.
"That means that there is a period of further deficit reduction required after the next General Election."
Mr Osborne and Mr Balls are due to appear on BBC One's Andrew Marr Show from 09:00 GMT to talk further about their proposals. The Budget is at 12:30 GMT on Wednesday.
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