The government is within striking distance of victory at the next election despite trailing Labor in the latest Newspoll, and despite support for the prime minister falling, a coalition MP says.
Malcolm Turnbull's popularity as preferred prime minister slipped significantly in the Newspoll published on Monday, as Labor retains a narrow 51-49 lead over the federal government on a two-party preferred basis.
The major parties haven't budged on a two-party basis for four Newspolls, the national survey published in The Australian reveals.
But Liberal backbencher Craig Kelly is confident the deficit can be turned around ahead of the next election.
"The reality is, the Newspoll today shows 51-49. We are within striking distance," he told reporters in Canberra on Monday.
"That is a close margin that can be turned around during an election period."
The fresh poll contains additional bad news for Mr Turnbull, whose lead over Labor leader Bill Shorten as preferred prime minister has been cut from 19 to 12 points.
Finance Minister Mathias Cormann said the prime minister still had the support of the partyroom.
"What the Newspoll shows is that again the prime minister is far more popular than the alternative, far more popular than Mr Shorten," he told reporters in Canberra.
The coalition's primary vote is down two points to 37 per cent, while the ALP's primary vote fell one percentage point to 35 per cent, the Newspoll suggests.
One Nation's primary vote has jumped two percentage points to nine per cent.
In the super Saturday by-elections on July 28, the coalition particularly struggled in the Queensland seat of Longman, recording a primary vote of just 29.6 per cent, while One Nation picked up 15.9 per cent of first preferences.
Labor's Susan Lamb retained the seat by securing almost 40 per cent of the primary vote.