Support for the coalition continues to drop, with the latest poll putting the Abbott government is now 10 points below its election-winning vote.
The Newspoll, published in The Australian, puts Labor ahead of the coalition 55-45 per cent in the two-party preferred vote, a drop of two points for the coalition since the previous poll two weeks ago.
Primary support for the coalition is also down two points to 35 per cent, from 37 per cent, while Labor is up one point to 37 per cent - two points ahead of the coalition.
The Greens have gained three points in the primary vote - up to 13 per cent.
Voter dissatisfaction with Tony Abbott has reached the highest level since he became prime minister, 62 per cent, and is his worst personal result since November 2012, The Australia reports.
With his approval rating at 31 per cent, Mr Abbott's net approval of minus 31 points is the worst for a prime minister since Julia Gillard scored minus 34 points just days before she was replaced by Kevin Rudd in June last year.
Labor leader Bill Shorten has also regained a 10-point lead as better prime minister that he took after the budget - on 44 per cent, with Mr Abbott on 34 per cent.
Former federal treasurer and deputy prime minister Wayne Swan said Liberal-National Party backbenchers were too gutless to speak out against the "savage cuts" in the budget, as reflected in the Newspoll.
"If they had any decency, they'd be standing up in the party room and holding the LNP to the promises they made to the people of Australia at the last election but they're not because they're gutless," he told reporters in Brisbane on Tuesday.
"There's no spine in the LNP backbench either at the state level or the federal level.
"They sit back and meekly accept the savage cuts ... which are going to hurt the peace of mind and welfare of families right across Australia."
As a Labor backbencher during the early 1990s, Mr Swan led a revolt against the Keating government's unpopular post-election budget that increased taxes.