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Shadow Chancellor Anneliese Dodds will accuse the government of mismanaging the billions of pounds spent in response to the Covid-19 pandemic.
In a speech to party members on Monday, he will accuse ministers of an “arrogant” approach to public spending during the crisis.
But he will call on companies in struggling sectors to get additional support to retain workers or provide training.
The government accused Labor of offering “recycled” economic plans.
Ms Dodds will call for a change in approach to handling the economic downturn during a speech at Labor’s online conference, which ends Tuesday.
It will present proposals for a job recovery scheme aimed at sectors that have been closed or with reduced capacity due to social distancing rules.
In a bid to stem job losses, it will also call for £ 3 billion in funding to be put forward to retrain the unemployed or those at risk of losing their jobs.
He will urge ministers to provide additional support to viable but indebted companies that will begin paying off government loans from next spring.
‘Ambitious job vision’
And he will promise to “restore trust” with the private sector, adding that he understands the “fundamental role that companies play in job creation.”
“Recover jobs, retrain workers and rebuild the business. Three steps to a better and more secure future,” he will say.
“This is an ambitious, hard-working vision, where security and justice are not just aspirations, but are a reality for families and communities across our country.”
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Labor has called for the licensing regime to be expanded in sectors such as the hospitality industry.
In her first conference speech since being named shadow chancellor in April, Ms. Dodds will accuse conservatives of mismanaging public funds in response to the crisis.
She will point to actions, including the recall of unused test kits and the decision not to use 50m face masks purchased for the NHS, as examples of waste.
It will also release a party analysis claiming that the government’s job retention bonus scheme will deliver 2.6 billion pounds to companies that would have retained staff anyway.
Labor has previously called for a review of the plan, which will pay companies £ 1,000 for each employee who returns from leave and is employed through January.
‘Recycled plans’
For the government, Rep. Steve Barclay, chief secretary of the Treasury, said that Labor was offering nothing more than the “recycled economic plans” of former leader Jeremy Corbyn.
He said they would slow down the UK and “hamper our recovery from the coronavirus.”
“This conservative government is fulfilling its employment plan: create, support and protect employment in every corner of our country,” he said.
