Poll shows Pauline Hanson's One Nation still ahead of Labor despite cartoon controversy - as Aussies struggle with cost of living crisis

One Nation has surged ahead in the polls as support for Labor slumped to its equal-lowest level since Prime Minister Anthony Albanese came to power.

While primary support for One Nation remains unchanged at 28 per cent, a two-point drop in Labor's support saw Pauline Hanson's party retain its lead in the latest Newspoll.

Labor's lowest primary vote on record in a Newspoll was 26 per cent in 2011, when Julia Gillard was prime minister.

The Coalition made up ground to record 21 per cent primary support, ahead of the Greens on 13 per cent and other parties on 11 per cent.

Support for Senator Hanson is rebounding despite the recent backlash over her controversial cartoons, one of which mocked Jacqui Lambie's vaginal prolapse, while another depicted politicians being deliberately mowed down.

After slumping to a net approval rating of minus-9 last month, the One Nation leader improved to minus-1, with 47 per cent of voters satisfied with her performance.

Support for One Nation remains three points below its record high of 31 per cent in June, before Hanson's popularity tumbled following her National Press Club speech, where she declared Australia "must be a monocultural society" rather than a multicultural one.

Albanese's net approval rating was minus-23, with 59 per cent of voters dissatisfied with his performance amid Australia's worsening cost-of-living crisis.

One Nation has surged ahead in the polls as primary support for Labor slumps to near-record levels. Pictured are One Nation leader Pauline Hanson and MP Barnaby Joyce

Primary Minister Anthony Albanese will spend the week mingling with world leaders in the Caribbean as millions of Australian mortgage-holders brace for more interest rate pain

In terms of preferred prime minister, Albanese remains well ahead on 44 per cent, followed by Hanson on 30 per cent and Coalition leader Angus Taylor on 26 per cent.

Albanese is currently in the Caribbean, where he will spend the week mingling with world leaders as his Labor colleagues back home fend off blame for an anticipated fifth interest rate hike of 2026 on Tuesday.

It comes as One Nation MP Barnaby Joyce issued a blunt warning to the Prime Minister.

'Mr Albanese has lost confidence with the people,' he told Sunrise on Monday.

'I've just come from a tour of NSW. I'm sorry Prime Minister, but they're over you. And if you stay there, it's not going to get better.'

'The budget is a disaster. You've got to have people who have actually run a business come to the fore before they start running the country.'

Labor frontbencher Tanya Plibersek insisted that Jim Chalmers' job as Treasurer was safe, despite him being labelled Labor's poorest-performing minister ahead of Tuesday's expected rate rise.

Chalmers recorded a net approval rating of minus-16, second only to the Prime Minister.

Barnaby Joyce (right) unleashed on the Prime Minister on Monday

Treasurer Jim Chalmers has been labelled as Labor's poorest-performing senior politician ahead of Tuesday's expected interest rate rise

Has Labor lost touch with everyday Australians?

Just 24 per cent of Newspoll respondents were satisfied with the job Chalmers is doing as Treasurer, while 40 per cent were dissatisfied.

Sixteen per cent were neutral, while another 20 per cent had never heard of Chalmers.

Penny Wong was the most recognisable senior Labor minister among voters, with a satisfaction rating of 38 per cent, ahead of second-placed Plibersek.

'People say they want big changes and they want the government to do the tough stuff,' Plibersek told Sunrise.

'Well, the Treasurer is the forefront of that and there's been no reforming treasurer in Australian history that hasn't copped it when they've made big changes.

'And we all support Jim, we all make decisions together.'