PRIME MINISTER:

Well isn’t that inspiring. There you see the cutting edge of technology, the jobs of the future being created by the commitment and the security that our Defence White Paper has given our Defence Investment Plan has given. You can see there large contractors employing hundreds, if not thousands, of Australians, smaller businesses working together with the university, First Australians, veterans - it is a great example of how our national economic plan is delivering the strong economic growth and the jobs Australia needs. It is a reminder of the importance in these times of both opportunity and challenge, of both opportunity and risk, of both opportunity and uncertainty - to have a clear national economic plan to know where you are going, to have an objective clearly in sight and to have stable Coalition majority Government, strong economic leadership.

That's why I'm saying to all Australians, the only way to be sure of having strong economic leadership, stable majority Coalition Government, is to vote for your Liberal or National candidate at this election. That is the choice. It is a very, very clear choice. On the one hand, stability, economic leadership, a clear plan that will deliver - and is delivering now, as we just heard this morning. On the other hand, the chaos of an alliance between Labor, Greens, independents, Mr Xenophon. That is

a vote for uncertainty, a vote for more deficits, bigger deficits. In the next term of government, the Labor Party is promising higher deficits and more debt and higher taxes. How is that going to drive investment? That will drive investment away. Higher taxes on investment - you get less investment. A threat to out triple A rating, a threat to the borrowing costs of every Australian business, that's what Labor is offering - more debt, more deficits, more taxes over the next term in government. And that is before they've had to respond to the log of claims that Richard Di Natale and Mr Xenophon will deliver them – were they to get into the position of cobbling together Labor–Greens–Xenophon – independent alliance.

Now, let me say something too about Brexit. As I’ve said before, this is a momentous event in political terms, in historic terms and economic terms. There is a measure of stability returning to financial markets today, which is good. There remains considerable political uncertainty, as you all know, in the United Kingdom and in Europe. We are keeping a very, very close eye on that and I want to update you on a number of actions that we've taken.

The Treasurer and I are asking the Council of Financial Regulators, which, as you know, includes the Treasury, the Reserve Bank, ASIC and APRA, to engage with their counterparts in the United Kingdom and in Europe and of course elsewhere internationally and provide a comprehensive report on the consequences - likely consequences to date and likely consequences in the future of this decision by the British people, early next week to the incoming government, which of course depends on the will of the Australian people as finally expressed on Saturday.

At the same time, I have been receiving updates and briefings from our diplomatic representatives in Europe - in particular our High Commissioner in London, a great South Australian, Alexander Downer, who of course is the longest serving Australian foreign minister. We will have a great deal of work to do in the future to progress our free trade agreement with the European Union, which we have reached agreement with the Europeans, as you know, to begin the process towards negotiation. It has a long way to go, but it remains a very critical objective. And of course, we will need to negotiate free trade agreements with the United Kingdom following their departure from the European Union, because at the moment our trade arrangements with the United Kingdom are part of the European Union in fact that has been so for decades, ever since Britain joined the European Union. So that's a very big shift. Now, to that end, we have a lot of common interests with our neighbours in New Zealand and the New Zealand Prime Minister, John Key and I, have discussed the implications of Brexit today and they are considerable. We have many, many common interests in terms of dealing with that, both from a trade point of view, from a movement of persons point of view - there are some big issues in terms of the access of Australians and New Zealanders to Europe and indeed to the United Kingdom, a whole lot of issues to work on.

If my Government is re-elected on Saturday, John and I will meet very shortly thereafter, with our officials and set out a collaborative, cooperative framework within which Australia and New Zealand will work together to ensure that we maximise any opportunities that arise out of these changes but also ensure, above all, that the interests of Australians and New Zealanders and Australian and New Zealand businesses are protected, as Europe goes through this very significant change.

JOURNALIST:

One of your key themes Prime Minister is stability. Since 2010 Australians have continually seen Prime Ministers torn down by their own party. Given your message is stability I'm just wondering if you win the July 2 election whether you can give a guarantee that you will be leading the Coalition to the next election in 2019?

PRIME MINISTER:

I will be leading the Government to the election in 2019 if I am returned as Prime Minister, leading the Coalition on July the 2nd. You can note that down.

Can I just say to you - I'll say it again - this is a very clear choice. Everyone knows that our economic plan has one measure after another which encourages investment. It does. Big trade deals - Labor opposed the biggest of them, the China-Australia Free Trade Agreement. Lowering business taxes, cutting company tax - again that drives investment, employment, jobs. It drives economic growth. We know that, that's why governments of both persuasions have cut company taxes in the future and not just here but around the world. You've seen the consequence upstairs of having secure long-term investment in our defence industries. Labor neglected that, abandoned that and made no decisions. Conspicuous by their absence they were in this defence industry space and thousands of Australians lost their jobs as a consequence as we heard a moment ago.

Now, we've changed that. Everything we're doing, on any view, is promoting investment and employment. What our opponents are doing is the exact reverse. They're running more debt, higher deficits and added to that, higher taxes. If you tax investment more you will get less investment. That is obvious and what do we need today, now more than ever - we need confidence, we need investment, we need employment, we need stability, we need leadership and that is what we provide and that is what only we can provide in the choice that Australians face on the 2nd of July.

JOURNALIST:

Keeping with your theme of stability, obviously you're probably quite happy with the polls this morning and they also show that potentially in the Senate we’re going to see quite a lot of minor parties and Independents potentially having a place there. So you can't really guarantee any of your measures are going to get through the Senate. So isn’t this stability promise a completely empty promise?

PRIME MINISTER:

Can I just repeat what the Treasurer said on AM this morning - when people start speculating what a Senate that hasn't even been elected might do you really are getting ahead of yourselves. We have got to wait until we see who is elected to the Senate and of course we know from the Labor Party, it wasn't so long ago, that they were waging a campaign and petitions to oppose savings measures of ours and then in the course of the campaign did a complete backflip. We are confident that we can secure all of the measures in our Budget but it will of course await the determination of the Australian people and that's why I'll take the opportunity once again that the only way to be sure of continued strong economic leadership in these uncertain times and the delivery of a clear national economic plan is to vote for your Liberal and National candidates in the House and in the Senate.

JOURNALIST:

There are very serious allegations in the Fairfax papers today about visa fraud and allegations of corruption in Border Force. Is there more that needs to be done on this? Are you going to take this seriously as well as stopping the boats? Do you need to put more focus on these corruption issues in Border Force?

PRIME MINISTER:

Allegations of criminality regardless of where they occur but particularly if they occur in government agencies are taken with the utmost seriousness and will be pursued relentlessly until any offenders are identified and brought to justice.

JOURNALIST:

[Inaudible]

PRIME MINISTER:

Our border security is absolutely resolute. The important thing is that Australians have confidence in it. Regrettably I begged him not to do it, I begged Kevin Rudd not to do it. I was Leader of the Opposition. I remember the debates very well. Kevin Rudd abandoned a border protection policy he inherited from John Howard which had stopped the boats. He abandoned it and as we know 50,000 unauthorised arrivals, 1200 deaths at sea of which we know, thousands in detention, a catastrophe, an absolute catastrophe. So Labor's track record on border protection is there for all to see. The only government, the only parties that can be relied upon to keep the border secure is the Coalition. We have done it. We did it under John Howard. We've done it under Tony Abbott and myself. We've done it there then. We've done it now. We've set Labor's mistakes to right and stopped the boats. Now the fact is, unless we maintain a strong line on border protection the boats will start again. That is - it’s regrettable but it's true. It is absolutely true. We know that. Labor does not have the same policy as we do on border protection as we know, they have abandoned Temporary Protection Visas and as for their ability to commit to what Mr Shorten said with respect to turn-backs I make two points and two points only. Kevin Rudd made the same commitment and look how he let Australians down. Fifty members of Mr Shorten's team are vocally and strongly against that policy. How can he maintain that if he were to be in partnership, dare I say, with the Greens who are vehemently opposed to our border protection policies? There can be no certainty on the border, no security on the border, other than with a Coalition majority Government.

JOURNALIST:

You mention the possibility of a Xenophon-Labor-Greens alliance but isn't there a real possibility of a Liberal-National-Xenophon alliance? How would you manage or negotiate if there was a hung parliament with a Xenophon team and also other independents and minor parties?

PRIME MINISTER:

A vote for Senator Xenophon is a vote for all of the uncertainty of a Greens – Labor - Xenophon-independent alliance. Let’s be quite clear. That's the choice. Stable, strong economic leadership, a majority Coalition Government and a national economic plan that is fully funded, paid for, set out in the Budget, not in anything, any glossy publication, set out in the Budget, laid out there and we have taken that case every day since the Budget to Australians, explaining what it is delivering and what it

will deliver in the future. The economic growth and jobs that will flow from it. That's security. That's stability. And that's what Australia needs. The alternative is all of the uncertainty, all of the chaos, of a Greens – Labor – Xenophon - independent alliance. If you look at the uncertainty that is there inherent in everything Labor is doing at the moment, look at what they've said about superannuation. They said they'll take the savings from our policies but will think about what their policies might be? That gives you an insight into the lack of clarity, the lack of certainty, the lack of thought that they haven't of course - they don't know what their policies will be, because they haven't had their negotiations with the Greens or the independents yet.

JOURNALIST:

So you’re ruling out negotiations with Nick Xenophon?

PRIME MINISTER:

We will form a Coalition majority Government if the Australian people give us the support we need. That's what we're seeking because that is the only way Australia's interests, vital national interests, can be protected at these times. Thank you very much.