Governor-General urges focus on economy

Governor-General Peter Cosgrove has urged MPs and senators to focus on the economy.

Peter Cosgrove will swear in new Turnbull government ministers in Canberra on Tuesday. (AAP)

Governor-General Peter Cosgrove has implored politicians to put budget repair and the economy front and centre at the opening of the new parliament.

Sir Peter said it was important the 45th parliament be prepared for any significant shocks from the global economy by strengthening the nation's economic resilience.

"Failure to prepare will leave our economy and our living standards vulnerable," he told the group of MPs and senators in the upper house chamber.

Sir Peter said his government would work constructively with all parliamentarians to bring the budget back into balance by controlling expenses and strengthening economic growth.

He cited crackdowns on multinational and superannuation tax concessions as among some of the key policies.

Sir Peter also touched on national security, saying it was the highest responsibility the parliament bore.

That's why legislation further strengthening counter-terrorism laws to be introduced soon was so important, he said.