Fairfax Media chairman Roger Corbett attended a $500-a-head Liberal Party fund-raiser and stood to applaud Tony Abbott on Wednesday night, amid increasing criticism and a suggestion that he should resign from the Reserve Bank board for publicly criticising the Prime Minister.

Mr Corbett said he had no comment when asked about a call by Senator Doug Cameron that he resign from the board of the central bank.

When asked to justify critical remarks he made about Kevin Rudd on ABC television's Lateline on Tuesday, Mr Corbett said: "I didn't attack Mr Rudd, I made comments and I stand by those comments. I have nothing further to say."

He said it was "entirely appropriate" for someone in his position to cast judgment on the Prime Minister.

Mr Corbett told the Lateline audience that Mr Rudd had done the Labor Party "enormous damage" and "destabilised it".

"I don't think the Australian people will cop that," he said.

He blamed Mr Rudd for Labor's dismal performance at the last election and the weakened position in which the party found itself.

"I think if they come undone in these elections it would have been much better that they come undone with Julia Gillard leading them than Kevin Rudd," he said.

Mr Rudd dismissed the comments on Wednesday.

"It's a matter for Mr Corbett," Mr Rudd told Channel Nine. "It's a free country, anyone can say what they like."

On Wednesday night Mr Corbett, a Liberal Party member, joined a standing ovation to welcome Mr Abbott and also stood to applaud after his speech.

Liberal frontbenchers at the function, at Le Montage in Lilyfield, included Eric Abetz, George Brandis, Mathias Cormann, Malcolm Turnbull and Arthur Sinodinos. Other guests included Sydney Airport boss Max Moore-Wilton, who sat with Margie Abbott. Former senator Helen Coonan, former MP Bruce Baird and Liberal powerbroker Michael Photios also attended.

Mr Abbott warned the expectant room that the Coalition was not assured of victory in the federal election: "Yes, there's a sense of anticipation. There's a sense of hope. But there's no sense here that this is a done deal."

Fairfax Media is the publisher of the Herald.