Both leaders launch Brexit scare campaign

Malcolm Turnbull says only the coalition's economic plan will ensure Australia weathers the Brexit shock - Bill Shorten insists the government is divided.

Bill Shorten says the Brexit shows why the Turnbull government should not be returned on July 2. (AAP)

Malcolm Turnbull is urging voters to back the coalition in the wake of the Brexit shock but the opposition leader insists the prime minister is a weak man held hostage by a dysfunctional party.

Brexit has been added to the list of scare campaigns this election, with both leaders making a pitch to voters on Saturday about who could better weather the global uncertainty in the wake of Britain's surprise decision to leave the European Union.

Opposition Leader Bill Shorten likened Mr Turnbull to British Prime Minister David Cameron, who announced his resignation on Friday having led the failed Remain campaign.

Both men led divided governments, forced to national votes they didn't want by the right-wing of their parties, he said, referring to Mr Turnbull's proposed plebiscite on same-sex marriage, which he initially opposed when Tony Abbott was still prime minister.

"David Cameron never wanted to have this referendum - sounds familiar, doesn't it?" Mr Shorten told reporters in Townsville.

"Poor old Mr Turnbull, he knows that this marriage equality plebiscite is not the right way to go.

"He is a weak man beholden to the right wing of his party."

Mr Turnbull said he wouldn't be stooping to Mr Shorten's personal attacks, but insisted a vote for Labor, Greens or independents would mean chaos and instability.

Britain's decision was a big economic shock that would hinder the global economic recovery, creating risk and uncertainty.

"It is more important than ever to ensure that we choose on July 2 a stable coalition majority government with a clear national economic plan," he told reporters in Sydney.

"Our opponents, I regret to say, with their anti-business, anti-jobs, higher taxes agenda, are simply undermining investment, making us less competitive and less able to seize the opportunities."

Mr Shorten warned hostilities between Mr Turnbull and his predecessor would erupt after the election, with tensions already bubbling among the coalition's conservative wing.

He warned that Mr Turnbull would be forced to rely on preferences from extreme right-wing parties like One Nation in order to win government.

"I'm looking forward to seeing the uncomfortable photos of the papered-over reconciliation between Mr Abbott and Mr Turnbull tomorrow," he said, ahead of the coalition's official campaign launch in Sydney.