David Cameron is to suggest that further public spending savings could be used to fund tax cuts.
"Every efficiency" found could help to provide a "bit of extra cash" for households, he will say in a speech.
He will also argue that spending cuts are part of an attempt to change the UK's "values" by making the country less reliant on debt.
But Labour argued that the PM had overseen tax cuts for the wealthiest while "everyone else is worse off".
The prime minister's speech comes two weeks before Chancellor George Osborne unveils his Budget, with the level of public spending shaping up to be a main battleground at the next general election.
'Feeling the squeeze'The coalition parties - the Conservatives and Liberal Democrats - say cuts are vital to reinvigorate the economy, but Labour says they have been imposed too fast and have delayed the economic recovery.
End Quote Chris Leslie Shadow chief secretary to the TreasuryDavid Cameron has revealed his true values by the choices he has made. He's chosen to give the top 1% of earners a £3bn tax cut while everyone else is worse off"
Addressing an audience in the Midlands, Mr Cameron is expected to say that government efficiency is "important at the best of times but it's more important than ever when families are feeling the squeeze.
"Because every bit of government waste we can cut, every efficiency we can achieve is money we can give back to you. A bit of extra cash that can help a dad afford those trainers for his son or help a mum celebrate her daughter's birthday with a meal out."
He will add: "There's something even more fundamental here about our values. If we don't get to grips with the deficit now we are passing a greater and greater burden of debt to our children.
"It's not just what we are doing that matters; it's why. It's all about values. And the most important value right now - after a difficult time for our country - is giving people a sense of economic security and peace of mind."
Ease burdenMr Cameron, who has made clear that he wants to reduce taxes if the Conservatives win a parliamentary majority at the 2015 election, will say that true security comes from "having more money in our pockets".
Some senior Conservatives are calling for the 40% income tax rate threshold to be raised to £44,000 in the Budget to ease the burden on middle-class voters.
The prime minister's speech comes after official figures confirmed last week that the UK's GDP had risen by 0.7% in the final three months of last year.
Unemployment fell by 125,000 to 2.34 million from October to December.
For Labour, shadow chief secretary to the Treasury Chris Leslie said: "David Cameron has revealed his true values by the choices he has made.
"He's chosen to give the top 1% of earners a £3bn tax cut while everyone else is worse off.
"Working people have seen their wages fall in real terms by over £1,600 a year on average under David Cameron's government."
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