Deputy Prime Minister Barnaby Joyce has mocked the idea of a yes or no vote on the republic, arguing it won't deliver jobs in North Queensland.

But Australian Republican Movement's chief Michael Cooney says it's time for Malcolm Turnbull – a former head of the ARM – to stand up and take the lead on the issue.

In a major speech to an 800 person fundraising dinner for the ARM on Saturday evening, opposition leader Bill Shorten will promise that – if he wins the next election – Australians will vote in his first term on a straightforward question: "Do you support an Australian republic with an Australian head of state?"

Mr Shorten's promise means a first vote on the issue would be held sometime between 2019 and 2022, and would be followed by a second vote that would settle the tricky issue of the best model – for example, whether a president was chosen by direct election, or the parliament.

A minister with responsibility for the issue would also be appointed.

It's a promise that has energised republicans and established a clear difference between the opposition leader and the Prime Minister, who has said the republic debate should not be re-opened until after the Queen dies. Labor will not wait for the next English monarch to occupy the throne.

Mr Shorten was in Townsville on Saturday morning for the Queensland Labor Party conference, ahead of his Saturday night speech, and both Mr Joyce and Trade Minister Steve Ciobo said the speech showed the opposition leader was out of touch with the issues Queenslanders cared about – jobs, cost of living and rising electricity prices.

"I am sure this will give them jobs in North Queensland, talk about a Republic and then four-year terms. What Bill Shorten doing is not committing to building dams, doesn't commit to building the inland rail, no real policies of economic development," Mr Joyce said.

The Deputy Prime Minister conceded Australians did care about the republic as an issue, but said "the first thing is they give a toss about what their power bill is like."

Mr Ciobo said Labor was not talking about the issues that mattered to everyday Australians.

"He's not focused on jobs for Australians, he's not focused on keeping the lights on, he is not focused on cost of living."

But Mr Cooney said the ARM was delighted with the Mr Shorten's announcement and "we really hope the Prime Minister can match this."

"This could be a great bipartisan national project. It's interesting that the Deputy Prime Minister doesn't defend the monarchy in his comments – that says something about where Australian opinion is at," he said.

"The Prime Minister now has an opportunity to go much further than he has previously done. The PM can lead and unify Australia on this issue and we hope he seizes this opportunity."

The Australian Monarchist's League predicted Labor voters would desert Mr Shorten because of his promise and claimed that in 1999 – when the last republic referendum was held – an estimated one-third of Labor voters voted against a republic.

National Chair Philip Benwell said that "with the number of referendums now on the Shorten short-list (republic, Indigenous, four-year terms, section 44) one wonders when he is going to get time to actually govern?"

"It is also quite hypocritical that he is promising a plebiscite on a republic but when blocking the one on same-sex marriage stated that holding a plebiscite would be too expensive."