Malcolm Turnbull extends lead as preferred PM as Coalition hits back

Malcolm Turnbull has stretched his lead as preferred PM as Bill Shorten struggles over the perception he is moving Labor to the left.

Prime Minister Malcolm Turnbull has every reason to smile. Picture: AAP

Malcolm Turnbull has stretched his lead over Bill Shorten as the preferred Prime Minister as Parliament prepares to return for the first sitting week of the year and the Opposition leader stands accused of taking Labor further to the left.

The Coalition has also lifted its stocks following a two month break with a two-point jump in the primary vote to 38 per cent, as the two leaders shape up for a battle over cost of living, taxation and economic policy.

Recovering ground following a disastrous year, the Coalition now trails Labor 48/52 on a two party preferred vote. While only a single point rise since December, it is the best two party preferred vote the Coalition has recorded since April 2017.

Labor’s primary vote remained unchanged on 37 per cent.

The Government will seek to capitalise on the results, as evidence that Mr Shorten was now on the back foot and the momentum had begun to swing its way. However, if an election were to be held at the weekend, the numbers show that the Government would still fall.

One Nation has continued its slide dropping a further two points to five per cent, returning a five point loss since November last year. Almost all the One Nation vote has returned to the Coalition which has lifted its primary vote four points since plummeting to a record low of 34 per cent in November. The Greens and other minor parties remain unchanged on 10 per cent apiece.

Benefiting from the traditional new-year bump that has tended to favour governments, as voters are spared from the daily media grind, the Prime Minister’s personal ratings have also lifted.

Mr Turnbull now leads Mr Shorten as preferred Prime Minister 45 to 31, the biggest lead since August last year. It reflects a four point rise for Mr Turnbull and a three point slide for the Opposition leader.

While Mr Shorten recorded a two point rise in his satisfaction rating to 34 per cent, Mr Turnbull enjoyed a five percentage point improvement in his performance ratings to 37 per cent which reflects the sharpest rise since the early days of his leadership.