Opposition Leader Malcolm Turnbull abandoned any earlier pretence that the economic crisis would be tackled in a bipartisan way, declaring the Rudd Government's $4 billion partnership with the big four banks to fund commercial property projects would merely pad the banks' balance sheets without saving a single job.

"The proposal that he has accepted came from the big banks and it is designed to do one thing and one thing only, and that is to support the profitability of the big banks," Mr Turnbull said before addressing the Young Liberals.

"I believe the Government should be focusing its efforts, and it should be directing taxpayers' funds, in a way that will promote employment and support jobs and industries right across Australia. It shouldn't be simply focused on supporting one element, trying to hold up prices in just one sector."

Labor directed its attack on his plan to cut Australia's emissions of carbon dioxide - about 600 million tonnes a year - by at least 150 million tonnes by 2020.

Climate Change Minister Penny Wong said the proposal, involving capturing carbon in soil and vegetation, energy-efficiency improvements in buildings and investment in new technology, was a thinly veiled attempt to deflect attention away from obvious divisions within the Coalition over global warming.

"It's a policy that frankly looks like Mr Turnbull and [Opposition climate change spokesman] Greg Hunt came up with it over a latte somewhere," Senator Wong said. "The reality is tackling climate change is … a hard economic challenge."

Suggesting the issue of economic credibility will be prominent when Parliament resumes, Labor has also been honing a strategy to attack shadow treasurer Julie Bishop.