Leaders debate: Scott Morrison and Anthony Albanese in final showdown

Mr Albanese had the backing of 50 per cent of undecided voters on Wednesday night, well ahead of Prime Minister Scott Morrison on 34 per cent. Some 16 per cent didn't pick a side.

The two leaders will now regroup before the final push before polling day on May 21.

The two men vying to be Prime Minister clashed on wages, cost of living, character, integrity, border protection and energy policy during a debate which was largely free of the shouting that had plagued Sunday night's showdown.

In one of the flashpoints, Mr Morrison defended the secrecy surrounding a $500,000 taxpayer-funded settlement to former Liberal staffer Rachelle Miller, as he attacked Mr Albanese for refusing to launch an inquiry into allegations of bullying against the late Labor senator Kimberley Kitching.

Mr Morrison claimed the payout to the former Alan Tudge staffer had yet to be settled, hence the secrecy around the deal.

The Prime Minister said Mr Tudge would be his education minister if the Coalition wins next Saturday.

The leaders were asked about behavioural and cultural issues within their parties during the third and final debate of the federal election.

In a rare moment of goodwill, the combatants reflected on things that they admired in their opponent.

Mr Morrison said Mr Albanese had never forgotten his upbringing in council housing in Sydney, while the Labor leader praised the Prime Minister's investment in mental health.

But Mr Morrison also used the opportunity to lash his opponent.

"As much as I respect what he has been able to achieve, I just don't believe that he has been able to demonstrate that he is able to get across the detail to do this job," Mr Morrison said.

Earlier, Mr Albanese said the workers who helped Australians through the pandemic "deserve more than our thanks", as he defended his push for higher wages.

The Labor leader said raising wages $1 per hour amounted to just "two coffees a day", refuting suggestions that such a move would harm the economy.

But Mr Morrison has insisted that hiking the minimum rate would hurt businesses.

Anthony Albanese continued to push his argument that the Prime Minister never takes responsibility when challenges arise.

But Mr Morrison rejected the assertion, labelling the Labor leader an "armchair critic".

"He is like that person on Monday morning who always says what should have happened on the weekend, and you know what? You never let that person run the team," Mr Morrison said.

"He is always wise in hindsight, always got criticisms to make and that's been his job for the last three years."

The two party leaders explicitly ruled out introducing a carbon tax, although Mr Morrison continued to claim Labor's planned changes to the so-called "safeguard mechanism" were akin to one.

Neither leader attempted to downplay the rise of independents at this election.

Mr Albanese conceded there was a "great deal of disillusionment" in the public about the major parties, arguing scandals such as the Leppington Triangle land deal was undermining faith in politics.

Mr Morrison, whose colleagues including Treasurer Frydenberg are under threat from so-called "teal independents", suggested the emergence of political outsiders was the result of the upheaval of the past two years.

"The last three years, last two years in particular, have been incredibly tough and that has greatly disrupted our society and community and I think people are still feeling the effects of that," he said.

After a fiery and at times "shouty" encounter on Sunday night, the Prime Minister and Labor leader clashed again Sydney for the third and final leaders' debate of the campaign.

With the Coalition behind in the polls, Mr Albanese desperate to avoid any further stumbles and large chunks of the population still undecided about who vote for, the stakes are high for the two men vying to be Prime Minister.

The pair set the scene for the showdown on Wednesday morning, trading insults over wages and economic management as they campaigned in different parts of NSW.

Mr Morrison labelled Mr Albanese a "complete loose unit" after the Labor leader supported increasing the minimum wage to a level which would keep pace with Australia's soaring inflation rate.

Mr Albanese had on Tuesday declared he "absolutely" supported a 5.1 per cent hike, although he did leave himself some wiggle room when he was pressed on his stance on Wednesday.

The Prime Minister said Mr Albanese's "reckless" proposal would result in higher inflation, interest rates and cost of living.

Mr Albanese fired back, accusing his opponent of being "loose with the truth" and expressing alarm that there wasn't bi-partisan political support for a $1 per hour pay rise for some of the nation's lowest paid workers.

The Channel 7-hosted debate comes as a new opinion poll published in the News Corp press suggests Labor is on track to win the May 21 election with 80 seats.

Arguments on cost of living, wages, national security, political integrity and leadership have all featured in the two first leaders' debates.

The first clash in Brisbane, hosted by Sky News, produced few memorable moments.

But there were fireworks during the second debate in Sydney's Channel 9 studios as the two leaders regularly shouted at, and over, each other.

In a surprise admission, Mr Morrison conceded that he shouldn't have described the vaccine rollout as "not a race".

The Prime Minister also claimed that he hadn't seen any corruption inside the Liberal Party, and appeared to claim credit for "blowing the whistle" on neglect in the aged care sector.

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