Economy is in strong position: Cormann

The Turnbull government has a plan to ensure Australia is in the strongest possible position to deal with whatever comes its way, Finance Minister Mathias Cormann says.

That includes the fallout from the shock decision by UK voters to back a British exit from the European Union.

"Our opponents would put Australia in a weaker position on the back of bigger deficits, which economists say would threaten our triple-A credit rating," Senator Cormann told Sky News on Sunday less than a week out from polling day.

But deputy Labor leader Tanya Plibersek said the coalition handled global volatility badly.

During the global financial crisis the Labor government protected 200,000 jobs.

It also secured three triple-A credit ratings from global agencies for the first time in its history.

"By international standards, we were one of the best performing economies in the world," Ms Plibersek told ABC TV.

Malcolm Turnbull, then opposition leader, voted against Labor's second stimulus package when his then shadow treasurer Julie Bishop wanted to adopt a "sit and wait and see" approach.

"The exact opposite of what any sensible economist would have told you at the time," Ms Plibersek said.