Coalition and Labor 50-50 in poll.

On day one of the election campaign the latest Fairfax-Ipsos poll shows the government is level pegging with the opposition.

The poll, taken before the Prime Minister called the July 2 election, shows that with a lead of 51-49 or 50-50 if voter preferences are taken into account, the election result cannot be predicted.

Fairfax Media reports that represents a 3.5 per cent swing away from the government

However 53 per cent of voters still expect the Turnbull government to survive.

Asked specifically about last week’s budget 43 per cent to 37 labelled it as “unfair”.Forty-six per cent of respondents said they were dissatisfied by the budget.

Mr Turnbull however remains strongly favoured by voters leading Bill Shorten as preferred prime minister 51-29. He has a positive overall rating of plus-8, a far cry from his plus-51 positive overall rating in October, 2015.

A separate NewsPoll out yesterday shows that Mr Turnbull leads Mr Shorten as the “better prime minister” by 49 per cent to 27 per cent.

The coalition’s primary vote came in at 44 per cent compared to Labor on 33 per cent.

The poll comes as both parties jump out of the gates with their election advertisements in full force yesterday.

The Labor ad is called ‘100 Positive Policies.’ It outlines the opposition’s plan to keep weekend award rates, deal with multinational tax avoidance and make health number one.

“100 positive policies can’t fit into one ad” Shorten says.

The Liberal party’s ad also features Bill Shorten.

“Bill Shorten has no plan for Australia,” features his policy backtracks over his career.

Set to circus music it mentions his previous stances on personal income taxes, a temporary tax levy and company taxes as will as a reference to his backing of Gillard and Rudd in the respective leadership spills.

A second Liberal Party ad calls for the Australian Building and Construction to be brought back.

Malcolm Turnbull and Bill Shorten are expected to head to Queensland today, on the first full day of campaigning. The ABC reports that Labor has its sights set on at least seven Queensland seats, including Petrie on Brisbane’s outskirts, held by the Coalition with a margin of 0.5 per cent.

Mr Turnbull will head to three electorates in the Brisbane area today — Bonner, Petrie and Moreton.

Mr Shorten is expected to make an announcement on education.