The Morrison government has asked parliament to back an extra $40 billion for "urgent and unforeseen" spending due to the coronavirus pandemic.
Assistant Treasurer Michael Sukkar introduced two bills to parliament on Monday allowing $16 billion and $24 billion respectively to be advanced to the finance minister for spending on such things as medical equipment, further stimulus and the "ordinary business of government".
The government has promised to issue regular media releases showing how the money is being spent.
Shadow treasurer Jim Chalmers says Labor supports the bills but wants more transparency.
"We recognise this is not business as usual in the economy, so it shouldn't be business as usual in politics either," Dr Chalmers said.
He called on the government to release Treasury's budget forecasts, saying businesses and the broader community wanted to know what was going to happen to the economy as a result of the fallout from coronavirus.
"This is crucial. We can't have people in the dark for such a long period," Dr Chalmers said.
"We don't want to see the vacuum filled by all kinds of other guestimates and have to rely on those.
"We want the professionalism of the Commonwealth Treasury."
The government will issue a media release at the end of each week as Finance Minister Mathias Cormann signs off on payments.
Advances greater than $1 billion would also need Labor's approval.
Senator Cormann said it was about making sure the government had the ability to spend money urgently when needed, especially with uncertainty surrounding when parliament will meet again.
"This ensures we have sufficient appropriations available to meet unforeseen costs," he told AAP.
The government has postponed the budget from May 12 to October 6.
Australian Associated Press