Australian prime minister urges stability after Brexit vote

Prime minister Malcolm Turnbull has officially launched the Coalition’s campaign ahead of the July 2 election, warning Australians of the ALP’s “recipe for economic stagnation”. “I’ve knifed just the one – so that’s twice the stability”, he said.

“The shockwaves in the past 48 hours from Britain’s vote to leave the European Union are a sharp reminder of the volatility in the global economy”.

Mr Turnbull’s campaign has been tightly controlled by Liberal campaign director Tony Nutt.

Other breaking news on Sunday was Labor’s release of its budget costings expected to confirm that Mr Shorten’s deficit will be bigger than Mr Turnbull’s over the next four years with claims that the federal budget would be brought back to balance by 2021.

“The historic investment by my government in Australia’s defence industries provides our defence forces with the support they need to keep us safe”.

The prime minister said Britain’s decision to leave the European Union underscores the need for a majority government in Australia, which he can provide.

The new announcements complemented a pledge earlier today to invest $192 million more in frontline mental health services, including 12 suicide prevention sites, 10 more Headspace centres “and at the same time, using smartphone technologies to make these services accessible”.

“Our clear economic plan is more essential than ever as we enter this period of uncertainty”, he said. “Always expect the unexpected”, he said, adding that Australia would now need to renegotiate vital trade deals with Europe and Britain.

“Turnbull’s optimistic message has changed… now it’s more accurately described as a message of fear with the previous hope and opportunity aspect bolted on for the sake of intellectual consistency and political respectability”, he wrote yesterday on Fairfax Media websites.

Australian foreign minister and Liberal Party deputy leader Julie Bishop speaking at the Coalition launch in Sydney.

“That’s not an alternative government – that’s an opposition unfit to govern”, Mr Turnbull said.

“When he’s not trying to frighten older Australians, Mr Shorten is prosecuting an anti-business, anti-growth agenda more toxic and backward-looking than any Labor leader in a generation”, he said.

The event was held in the Sydney electorate of Reid and was the first Coalition campaign launch not held in Brisbane since 2001.

In the company of former Prime Ministers John Howard and Tony Abbott, Mr Turnbull acknowledged his predecessors. It was reportedly the first time that he appeared in public together with Mr Turnbull after his ousting.

Mr Abbott was in office for only two years before he was overthrown by Mr Turnbull in an internal government showdown in September.

Mr Turnbull repeatedly urged Australians not to vote for independents or minor parties, saying it could result in a hung Parliament.

A significant part of his speech was a direct personal attack on the character of Mr Shorten, the Medicare scare campaign, Mr Shorten’s alleged capture by his trade union backers, the exposure of practices which left his own union members disadvantaged in some enterprise agreements.