Both Prime Minister Kevin Rudd and Opposition Leader Tony Abbott believe the election is a tighter race than the latest opinion polls suggest, as the two leaders head into the final week of campaigning.

The latest Newspoll published in The Weekend Australian today shows Labor is facing electoral wipeout in a series of marginal seats in Victoria and New South Wales.

A separate poll in the Australian Financial Review suggests Treasurer Chris Bowen and his predecessor Wayne Swan are at risk of losing their seats.

With voters due to cast their ballots next Saturday, the pressure is on the two leaders to hammer home their messages to the electorate.

Speaking in Darwin Mr Rudd said he believed Australians will use the next week to look at their choices.

"I've seen a range of polls, both public and private, which suggest to me this election will end up a little closer than people think," he said.

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"My job is to argue positively for Labor's and the Government's contributions and achievements in each locality across the nation."

Ahead of the Labor Party's official campaign launch tomorrow, the Prime Minister said his message to voters was clear.

"Our core message to the Australian people is that we are building the economy and jobs of the future, and protecting those jobs for the future. Mr Abbott is cutting those jobs and schools and hospitals for the future. And won't tell us how much," he said.

"My responsibility as the leader of the Labor Party and as the PM of the country is to put those choices starkly before the Australian people and to be completely upfront through our economic statement prior to the commencement of the election campaign, as to how they would be funded and what they cost. We have done that.

"As of today Mr Abbott has refused to do so. So the Australian people will work this out in their own good time over the course of the next week.

"I respect the wisdom of the Australian people to make their judgments in a seasoned and proper way."

On the campaign trail in Townsville, Mr Abbott agreed that the lead-up to polling day would be a hard-fought contest.

"This is a very close election. I think it's inevitable that the polls will tighten sharply in the last week," he said.

"Mr Rudd is a very clever politician. The Labor Party are ruthless campaigners.

"Modern Labor is hopeless at government, but they're brilliant at politics and we will see plenty of low politics over the last week.

"We've had claims that the Coalition will sell childcare centres that we don't own, sack teachers that we don't employ, sell hospitals that we don't own.

"I mean, there will be lie after lie after lie from the Labor Party over the last week, so we are taking absolutely nothing for granted.

"People should not think for a second that they can risk voting for their old mate the independent, their old mate the celebrity, their old mate the Labor candidate, because if you do that you're likely to end up with another bad Labor-Green government."

Coalition pledges funds for Townsville road upgrade

Mr Abbott visited Townsville this morning to announce a Coalition government would contribute $20 million to help flood-proof a major local road.

A $40 million upgrade of Dalrymple Road, which is liable to flooding from the Bohle River, will include a two-lane bridge and channelling works to divert water.

Mr Abbott said, if elected, the Coalition would partner with Townsville City Council to get the work done, with the council contributing the remaining $20 million.

"I'm very happy to commit an incoming Coalition government to doing this. It is very important and it's entirely consistent with our overall objective, which is to protect people's jobs, to improve people's lives, and to strengthen this great country of ours," he said.

Federal Member for Herbet, Ewen Jones, said the project was one that Townsville has wanted for a long time.

"This road goes under in a sound shower. It is the growth corridor of Townsville. When our roads go under, our economy stops," he said.

"We are a great city and we need the roads that work. We need the roads that stay dry. The Bohle River is a great part of the world but we need it to be underneath the road and underneath the bridges, not across it."

Rudd spruiks Palmerston hospital commitment

In Darwin, Mr Rudd focussed on health funding and spoke about the importance of a second hospital for the region.

If re-elected, the Government has committed to investing $110 million to build a new hospital at Palmerston.

"This is critical for these people who live in these communities, because frankly the health and hospital system here is bursting at the seams," he said.

"The fact that we have such crowded conditions at Royal Darwin underlines the absolute importance of two things in my mind: number one, making sure that Royal Darwin is being properly used itself; number two, building an additional hospital here at Palmerston.

"Darwin needs two world-class hospitals. One at Palmerston, one at Royal Darwin. Not one single continuing hospital - two for the future."

Health Minister Tanya Plibersek announced the Government's intention to fully fund the Palmerston hospital project earlier in the month.

Labor has also pledged $1 million for upgrades to childcare centres in Darwin and Palmerston to assist with increasing demand.