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Alistair Darling insists next week's Budget will be "critical" in determining the result of the general election.
But the Chancellor made clear the package on March 24 will not feature details of where cuts in public spending will fall - instead focusing on measures to encourage economic growth.
He also refused to rule out more tax rises beyond the hikes on top earners and national insurance already announced.
Interviewed on Sky News' Sunday Live programme, Mr Darling said of the Budget: "Of course it is important because the economy and the decisions we take that will affect the next five, 10, 20 years are pretty critical to the big decision, the big choice the country will make whenever the election is called.
"Crucially we have got to plan now to ensure we get growth for the future because growth is what brings jobs, jobs is what will bring rising living standards."
Asked if he would give details of spending cuts, Mr Darling said: "I will carry on spelling out what we have done, and the progress that we are making both on supporting the economy and reducing our borrowing levels, the deficit levels, that is important.
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"But I have always said that because of the uncertainty we have seen over the last 18 months it would have made no sense to have been doing a (comprehensive) spending review at that stage.
"We won't do one before the election, but of course one has got to be done this year because our current spending runs out at the end of March 2011."
Mr Darling refused to give a guarantee that there will be no more tax rises, despite Treasury Chief Secretary Liam Byrne seeming to give such a commitment last week.
"No Chancellor is ever going to say they are never going to change the tax system over the next five to 10 years or whatever," he said.
