The economy has taken centre stage on the second day of the election campaign with both sides of politics claiming the high ground in terms of economic management.
A decision by the Reserve Bank to drop official interest rates has sparked a flurry of claim and counter claim about what the decision means for the Australian economy.
Amanda Cavill reports.
The Coalition says the further drop in interest rates signals a deteriorating economy and bad news for business and consumers.
The Reserve Bank has cut official rates from 2.75 per cent to 2.5 per cent - its lowest level in 23 years.
Coalition treasury spokesman Joe Hockey says the cut shows Labor has lost control of the economy.
"The Reserve Bank would not be cutting interest rates if it were not for the fact that Australian economy is struggling. And Kevin Rudd doesn't get it. It doesn't understand that interest rates are being cut at the moment because the economy is struggling, not because it is doing well."
Joe Hockey says interest rates on average should be lower under a Coalition government - pointing to the Howard government's record.
Opposition Leader Tony Abbott won't promise that this would be the case.
But says the economy would always be stronger under a government led by him.
"Well, we are not going to chloroform the economy and a chloroformed economy, you only have to look at some countries overseas to see what happens when you chloroform the economy. Sure interest rates are low. But economic activity is almost non existent. What I say is: the economy will always be stronger under a Coalition government. Taxes will always be lower under a Coalition government."
Prime Minister Kevin Rudd has seized on the two men's comments, saying it just shows the Coalition can't even agree on its own policy.
"Can I say if you have got the alternative Prime Minister and the alternative Treasurer within 24 hours having a fundamental public blue (argument) about interest rates policy and about the budget bottom line. This not only suggests they are in a shambles but questions their fitness for office. These are serious matters."
Mr Rudd says former Liberal Prime Minister John Howard went to the 2004 election campaign saying interest rates would always be lower under a Coalition government.
Mr Rudd says this was proven to be completely untrue.
But Mr Howard has told Sky TV interest rates must be looked at in context.
"A wise man once said "context is everything" and the context in 2004 was who was better to deliver lower interest rates in a booming economy: the then Coalition government, or the Labor Party opposition? The circumstances now are quite different. I mean if anyone is seriously suggesting that this is a testament to our economic management. I mean look at some of the nations of Europe. They've got virtually zero interest rates and their economies are not moving."
Meanwhile, there has been further debate on the issue of how much the Coalition's policy promises would cost.
Joe Hockey has confirmed the Coalition will not provide a final projected budget figure before the election.
Kevin Rudd says that's just not good enough and the electorate needs to know exactly what spending cuts would be made to implement the Coalition's policies.
"That is not acceptable in a democracy. I had to do it in 2007. Everyone before us has had to do that. It's Mr Abbott simply trying to run away from where the $70 billion will be cut in basic services in health, education and jobs."
Mr Hockey says individual Coalition election policies will be fully costed but adding them up to forecast a final budget deficit or surplus would be meaningless.
He says that's because the starting point would have to be the Treasury's current projections, and they are not credible.
