Voters turn on Albanese and Chalmers as economic concerns bite
The personal standings of Anthony Albanese and Jim Chalmers have plunged to record lows, Labor’s primary vote is mired at its lowest ever and the party has lost its lead to rivals on every key issue except health, a new poll shows.
The latest The Australian Financial Review/RedBridge Group/Accent Research poll also shows economic management is starting to resonate with voters, jumping 7 percentage points in a month as an issue of concern to sit just outside the top five.

Chalmers reached his lowest ever favourability rating. Albanese is still the nation’s preferred prime minister, but by a dwindling margin. Tim Beor
The monthly poll of 1000 voters was taken between Monday and Friday, encompassing a week in which new budget data and an interest rate rise put the spotlight on high government spending, while the Greens elected David Shoebridge as leader.
Although the primary vote for the major parties remains relatively stable, with One Nation poking its nose back ahead of Labor at 29 per cent to 28 per cent – the sixth lead change in six months – there are worrying lead indicators for the government.
Albanese’s net favourability rating, which is his favourability rating minus his unfavourability rating, plunged 10 points in a month to minus 27 per cent, his lowest rating ever and the same level as Peter Dutton recorded the day before the Coalition’s election thrashing in 2025.
Treasurer Jim Chalmers’ net favourability fell 9 points in a month to minus 23 per cent, his worst ever level. One Nation leader Pauline Hanson improved her net rating by 2 points to minus 10 per cent, while Coalition leader Angus Taylor’s net rating fell three points to minus 6 per cent.
Cabinet secretary Andrew Charlton, tipped as a future treasurer and even leader, dismissed a suggestion that Chalmers may have to be replaced in a pre-election reshuffle to salvage the government’s fortunes.

“No, Jim Chalmers is doing an extraordinary job in very difficult global circumstances,” he said.
Albanese is still the nation’s preferred prime minister, but by a dwindling margin. His rating was unchanged at 31 per cent, but Hanson lifted 2 points to 26 per cent, to trail the prime minister by just 5 points. Taylor was unchanged on 15 per cent.
The elevation of Shoebridge to the Greens leadership, after Larissa Waters stepped down due to ill-health, had no immediate real impact, with the party’s primary vote dipping 1 point to 11 per cent.
Based on asking poll respondents how they would direct their preference, Labor leads One Nation by 52 per cent to 48 per cent on a two-party-preferred basis, which is unchanged since last month.
But sharp falls in other indicators could herald a future fall in the vote.
“Labor’s vote share is back to its lowest recorded level. The current political challenge for Labor is that the cash register never lies and voters will rarely reward a government when they are feeling poorer,” said RedBridge director Tony Barry.

The issues that most concern voters are cost of living (73 per cent), healthcare (36 per cent), housing affordability (33 per cent), the rate of immigration (29 per cent), crime and public safety (24 per cent), economic management (21 per cent), government debt (14 per cent), climate change (13 per cent), national security (11 per cent) and tax reform (9 per cent).
But when it comes to which party is the best to handle each of these issues, Labor leads on just one – healthcare. One Nation leads on four of the top five – cost of living, housing affordability, immigration and crime – while the coalition leads on economic management, national security and tax reform.
As an issue of voter concern, economic management jumped from 14 per cent to 21 per cent in a month. In terms of which party is most trusted to handle the economy, Labor has dropped 4 points to 20 per cent, while the Coalition increased a point to 29 per cent and is now by far the most preferred economic manager. One Nation is on 16 per cent.
Last week, the final budget outcome for last financial yearconfirmed the government was the highest spending in 40 years and on track to become the highest-taxing government ever, the cash rate increased to 4.6 per cent with more to come, and inflation rose to 4 per cent.