"We need an Australia with more of everything: more factories, more dams, more vision, more cities, more homes and more babies," he will say on Wednesday in his first National Press Club address as leader.
"I like to call it a hyper Australia but whatever you like to call it my agenda is an Australia on steroids."
Senator Canavan will argue Australians are experiencing an unprecedented decline in living standards, blaming high energy costs, globalisation and government policy settings.
The Queensland senator, who became leader of the Nationals after David Littleproud's shock resignation in March, will take direct aim at the prime minister, accusing him of clinging to outdated economic thinking and relying too heavily on the clean energy transition.
"A microwaved Milton Friedman is not going to solve our economic woes – and it is certainly not going to calm the rightful rage of the Australian people at their political leaders' incompetence in trashing the promise of the luckiest country in the world," he will say.
"The chief cheerleader of this economic cul-de-sac remains the prime minister - Captain Status Quo himself.
"He still believes that a few more subsidies for batteries and hydrogen will fix everything."
Senator Canavan will propose an economic plan, which he titled a Patriot Agenda for an Australian Economic Revival, with five main areas of focus.
The first will be a "manufacturing renaissance" through protecting key industries against foreign competition, and the second will be closing the border to mass migration to free up infrastructure and housing stock.
"Australia has always defined itself by the things we make, build and grow," Senator Canavan will say in his speech.
"We made cars, we built the Snowy Hydro, Queenslanders are known as banana benders, and yes – we invented the Hills Hoist clothesline."
He will also call for an energy abundance by scrapping net zero and investing in all forms of energy to lower prices, and a national works program that builds dams, roads, rail, ports and space ports.
Senator Canavan will also propose the building of new cities as a fifth focus area, allowing young Australians to afford a home and access the same services in capital cities.
