Labor’s popularity as slumped to a near-record low as minor party One Nation holds firm as the most popular party in the nation, new polling has shown.

According to Newspoll, the Albanese Government’s approval rating has dipped to 27 per cent — a 10 per centage point difference to 12 months ago.

The party’s lowest ever primary vote was 26 per cent during Julia Gillard’s stint as prime minister in September 2011.

Anthony Albanese’s personal approval rating also now sits at the lowest since he was elected Prime Minister in 2022.

It comes as the country continues to be hit hard by the rising cost-of-living, with Government spending and controversial tax policies credited for rising inflation and interest rate hikes.

The Pauline Hanson-led One Nation has retained its 30 per cent primary vote, while the Coalition is polling just 19 per cent.

Mr Albanese still leads in preferred Prime Minister rating with 44 per cent, in front of One Nation leader Pauline Hanson with 32 per cent and Liberal leader Angus Taylor who is polling 24 per cent.