The Conservatives want to scrap the existing rules on government borrowing and set up an independent organisation to monitor public spending and debt.
Leader David Cameron told the BBC he would give power to the Bank of England to "call time" on debt in the economy.
In the wake of Bradford and Bingley's nationalisation, Mr Cameron also said he preferred allowing the Bank of England to take over failing banks.
Mr Cameron was speaking as his party's conference begins in Birmingham.
He told BBC One's Andrew Marr show the Conservatives would act as a "responsible opposition" and said: "What you won't hear from me this week is the sort of easy cheap lines beating up on the market system, bashing financiers.
"It might get you some easy headlines, but it is not going to pay a single mortgage, it's not going to save a single job."
Shadow chancellor George Osborne will announce on Monday that as part of an economic package, the Conservatives would scrap existing fiscal rules, which they say have been discredited by Labour.
In the short term we should legislate to show we are going to protect deposits and savings
The Tories would set up an independent organisation, the Office of Budget Responsibility, that would act as a watchdog on all public spending and borrowing.
It would produce the country's economic forecasts, instead of the chancellor on Budget Day, and a full audit of all of the nation's borrowing, Mr Cameron said.
The body - which would not have powers to force a government to act in a particular way but would have the power to embarrass - would set a target date for Britain's budget to be balanced and publish public reports on progress.
The Conservative Party's aim is to prevent a repeat of the problems that have affected Northern Rock and the Bradford & Bingley banks.
Mr Cameron said: "In the short term we should legislate to show we are going to protect deposits and savings.
"We also need to give the Bank of England more powers to step in and save failing institutions."
He added: "At a time of economic difficulty, it's particularly important that we are here setting out that there is an alternative."
Egypt, Pakistan, Hungary
Mr Cameron said there had been "failure of regulation" in the financial sector, adding: "We have had a debt boom that went on for far too long and it reached into parts of the economy it shouldn't have done."
He said the government had had a year since the Northern Rock collapsed.
HAVE YOUR SAY
Whatever they say now they will only renegade on it if elected into office just as labour has done
This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.