Independent MP Rob Oakeshott says Julia Gillard and Tony Abbott should consider a ruling coalition which would see former political enemies sitting side by side around the cabinet table.

Mr Oakeshott and his fellow independents Tony Windsor and Bob Katter have been touted as the kingmakers if either of the two parties tries to put together a minority government.

Neither of the big parties will reach the 76 seats needed for a majority in the House of Representatives and talks are currently underway to end the political deadlock.

Today the New South Wales independent told the ABC that a majority of 76 would not be enough to ensure stable government in the event of a by-election.

He said the two parties should consider putting together a ruling coalition which could, for example, include former Liberal leader Malcolm Turnbull sitting in a cabinet headed by Julia Gillard.

Mr Oakeshott is preparing for talks with his fellow independent MPs Tony Windsor and Bob Katter in Canberra today as the political deadlock continues.

"We need to get a buffer going in my view," he said.

"It is a cheeky option, and it's not for me to pick cabinets,[but] Malcolm Turnbull in a Julia Gillard government or Kevin Rudd as foreign minister in a Tony Abbott government?"

"Here is a moment when we can explore the edges and explore outside the box."

The three key independents are also likely to make time to meet newly-elected Greens MP Adam Bandt, who has also arrived in Canberra.

Mr Bandt has previously indicated he would be likely to side with a Labor government, but says he will be talking with both sides.

He says the make up of the future government should last for its full term.

"I do think that we don't want to be going to the polls again sometime soon," he said.

Mr Abbott and Ms Gillard are also in Canberra and will also meet with the independents in coming days.

Yesterday Ms Gillard said Labor was best placed to provide stable government as she faced questions over recriminations that had already begun within the party.