Newspoll: the incredible sinking Turnbull

Malcolm Turnbull sinks again in Newspoll, and the Liberals are lucky to  be behind by "just" 48 per cent to Labor's 52. UPDATE: Liberals now seem to be hedging their bets on Turnbull surviving.

But there's no sign now that Turnbull is the man to lead them to recovery:

Voter satisfaction with Malcolm Turnbull’s performance as Prime Minister has sunk below 30 per cent for the first time, as Labor chalked up its third successive Newspoll lead of 52 to 48 per cent.

The latest Newspoll, taken ­exclusively for The Australian, ­reveals Mr Turnbull’s satisfaction rating of 29 per cent is now lower than Tony Abbott’s measure of 30 per cent when he was toppled as leader in September last year.

And Mr Turnbull’s standing as the preferred prime minister has also been cut to his lowest mark since seizing the top job. It has been sliced by three points to 42 per cent. While he maintains a lead over Bill Shorten on 32 per cent, it is the closest margin ­between the leaders on this ­measure.

The polls show four interesting trends. First, the more-or-less steady decline of the Coalition (actually just the Liberals) over the last year. Second, the failure of Labor to pick up the disaffected. Third, the decline of the Greens. Fourth, the rise of "other" parties - particularly Pauline Hanson's One Nation, now at 5 per cent.

media_cameranewspoll

UPDATE

Suddenly no one wants to rule out Tony Abbott's return any more:

The damning results are likely to put increased pressure on Mr Turnbull's performance. Just hours before it was released, Cabinet secretary and key Turnbull confidant Arthur Sinodinos refused to rule out Mr Abbott returning to the top job.

Senator Sinodinos said he wouldn't put money on Mr Abbott becoming prime minister again, but said on the ABC's Q&A program he had learnt through "bitter experience" not to rule anything in or out...

Earlier, Treasurer Scott Morrison was asked about the chance of an Abbott comeback on 7.30.

The minister declined to give a direct answer but said all Coalition members should be judged on whether they were "adding to the Coalition's cause" or "subtracting from it".

(Thanks to reader Peter of Bellevue Hill.)