Federal Election 2016: Malcolm Turnbull urges voters to back Coalition's 'calm heads' at campaign launch

Prime Minister Malcolm Turnbull has urged Australians to reject Labor, independents and minor parties next weekend in favour of a "stronger new economy".

Key points:

Malcolm Turnbull stresses need for stability after Brexit vote

Prime Minister urges voters to back a majority Coalition government for a stronger economy

Coalition launch was attended by former PMs Tony Abbott and John Howard

Mr Turnbull officially launched his bid for re-election at Sydney Olympic Park in the marginal Coalition electorate of Reid today.

In a 40-minute address to the Liberal and National faithful, the Prime Minister promoted his economic credentials and the need for stability following last week's Brexit vote.

"Our clear economic plan is more essential than ever as we enter this period of uncertainty in global markets following the British vote to leave the European Union," he said.

"Calm heads, steady hands and a strong economic plan are critical for Australia to withstand any of these negative repercussions.

"Back a strong and stable Coalition majority government that will press ahead with our plan for a stronger new economy.

"We have always been a lucky country but today, more than ever, we need to make our own luck.

"Get this right and Australians will succeed as never before."

Former prime ministers John Howard and Tony Abbott were in the front row and were acknowledged by Mr Turnbull as he began.

"Tony, you brought to an end the chaos and dysfunction of the Rudd-Gillard-Rudd years and you remain a powerful and dedicated advocate too for our great cause.

"John and Tony, we salute you."

John Howard, his wife Janette, former Australian Prime Minister Tony Abbott, his wife Margie and NSW Premier Mike Baird clap.   John Howard and Tony Abbott attended the campaign launch with their spouses. (AAP: Lukas Coch)

Turnbull urges voters to avoid independents, minor parties

Mr Turnbull repeatedly urged Australians not to vote for independents or minor parties.

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 intended to vote for someone other than the Coalition, Labor or the Greens.

Mr Turnbull said voting for such candidates risked installing a Labor minority government.

"I counsel all Australians against a roll of the dice on independence or minor parties," Mr Turnbull said.

"Vote for anyone other than the Liberal and National Party candidates and there is a risk that Australians next week will find themselves with Bill Shorten as prime minister.

"A replay of the Gillard years and another power-sharing fiasco with the Greens and independents.

"At a time of uncertainty, the last thing we need is a Parliament in disarray."

Source: ABC News

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