As Australian financial markets brace for a volatile trading week, the major parties are setting out their economic management stalls in the run-up to Saturday's federal election.
Australian shares slumped more than three per cent on Friday after the shock decision by UK voters to back a British exit from the European Union sent markets into free-fall.
Finance Minister Mathias Cormann is confident the Turnbull government has the plan to ensure Australia is in the strongest possible position to deal with whatever comes its way.
"Our opponents would put Australia in a weaker position on the back of bigger deficits, which economists say would threaten our triple-A credit rating," Senator Cormann told Sky News on Sunday less than a week out from polling day.
But deputy Labor leader Tanya Plibersek said the coalition handled global volatility badly.
During the global financial crisis Labor in government protected 200,000 jobs, she said.
It also secured three triple-A credit ratings from global agencies for the first time in its history.
"By international standards, we were one of the best performing economies in the world," Ms Plibersek told ABC TV.
Malcolm Turnbull, then opposition leader, voted against Labor's second stimulus package when his then shadow treasurer Julie Bishop wanted to adopt a "sit and wait and see" approach.
"The exact opposite of what any sensible economist would have told you at the time," Ms Plibersek said.
It was also at a time when the Reserve Bank was still cutting interest rates because of the poor performance of the Australian economy and the global economy was stagnant.
The Liberal party holds its official campaign launch on Sunday in Sydney, while Labor is having a second bite of the cherry with another launch in Brisbane around the same time.
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