Prime Minister Malcolm Turnbull has made a final election week pitch to voters, asking them to go for stability in uncertain economic times demonstrated by the Brexit.
The pitch came as Labor unveiled its policy costings and budget forecasts in a bid to bolster its economic credentials ahead of Saturday's poll.
About 500 Liberal and Nationals faithful, including former prime ministers John Howard and Tony Abbott, gathered on Sunday for the coalition campaign launch in the inner-western Sydney seat of Reid.
Mr Turnbull warned Britain's exit from the European Union underlined the need for stable majority government and an experienced set of hands to manage the economy.
"The opportunities have never been greater, but so is the competition, so are the uncertainties," Mr Turnbull said.
A Labor-Greens-independent minority government would damage the economy and restart the people-smuggling trade.
Labor had given up on policy and been reduced to phoning "frail and elderly Australians in their homes at night" to scare them about Medicare.
"That's not an alternative government - that's an opposition unfit to govern," Mr Turnbull said.
The Liberal leader made $416 million in new announcements on mental health, programs for disadvantaged students, training for seniors in digital technology and new resources to tackle gun violence.
Labor held a second campaign launch in Brisbane where Bill Shorten again talked up Medicare being under attack from the coalition.
Mr Shorten said Mr Turnbull faced problems within his own ranks because his moderate views on issues such as same-sex marriage did not sit well with conservatives.
"Those Liberals in that party are sharpening their weapons of revenge for the impending civil war," he said.
Shadow treasurer Chris Bowen revealed a Labor government would deliver budgets $16.5 billion worse off over the next four years but which would return to surplus in 2021 - the same year as that promised by the coalition.
Mr Bowen unveiled total budget improvements of more than $130 billion over the decade.
New savings measures announced on Sunday include a $5000 cap on the deduction individuals can claim for the cost of managing their tax affairs and the removal of the private health insurance rebate on so-called "junk" policies.
Labor also vowed to review whether to support the coalition's superannuation changes, while pencilling in $2.9 billion of the savings.
Treasurer Scott Morrison said Labor's plan would increase debt, threatening the triple-A credit rating and weakening the economy at a time when strength was needed.
Greens leader Richard Di Natale told his party's election launch the minor party was in with a "real chance" in a number of electorates.
It hopes to increase its lower house numbers from one now to two or three.
"If we don't, then beware the next election," Senator Di Natale said.
