Turnbull said he had ordered the Council of Financial Regulators, including representatives from the Treasury, the Reserve Bank, the Australian Securities and Investments Commission (ASIC) and the Australian Prudential Regulation Authority (APRA), to investigate any potential effect of the Brexit decision.
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Mr Turnbull’s the incumbent and campaigning on his record of jobs and growth, while Labor leader Mr Shorten’s promising investment in public health and education.
Prime Minister Malcolm Turnbull plans to hold a plebiscite (public vote) on the issue after the upcoming federal election – a compromise created to avoid a rift with some of his own ultra-conservative MPs. It comes from exactly the same sort of cynicism in policies that Mr Turnbull’s offering Australians at this election. Putting the party view first has been a constant in Turnbull’s election campaign.
Formally launching the Liberal campaign in the Western Sydney seat of Reid on Sunday, Mr Turnbull splashed just over one tenth of the billion Labor committed at its launch last Sunday.
“The shockwaves in the past 48 hours from Britain’s vote to leave the European Union are a sharp reminder of the volatility of the global economy”, he said.
The country goes to the polls on Saturday with economic management assuming added significance in the wake of Britain’s decision to leave the European Union, sparking global instability.
Mr Shorten is headed to the marginal Liberal-held seat of Banks to campaign against the coalition’s cuts to health.
Mr Howard is Australia’s second longest serving PM, lasting nearly 12 years before his government was defeated at 2007 elections.
Australia’s politics have been turbulent in recent years, with a “revolving door” of those in charge.
“I have no doubt that if the plebiscite is carried out, as I believe it will be, that you will see an overwhelming majority of MPs and senators voting for it”, Turnbull said.
Mr Abbott was in office for only two years before he was overthrown by Mr Turnbull in an internal government showdown in September.
Opinion polls have shown Lower House candidates for the Nick Xenophon Team polling well in a number of seats, and that up to 15 per cent of Australians meant to vote for someone other than the Coalition, Labor or the Greens.
However, Mr Turnbull said, “there is no cause for Australians to be alarmed by these developments”.
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Turnbull has repeatedly stated that, if re-elected, the government would not privatise any part of Medicare, but strategists from both major parties say the scare campaign has assisted Labor.
