Prime Minister Tony Abbott has made up ground against Opposition Leader Bill Shorten but Labor continues to be ahead of the Coalition ahead of the next week's critical federal budget.

A Newspoll, published by The Australian on Tuesday, shows Mr Abbott and Mr Shorten are now equally preferred PM by 38 per cent of voters each.

Prime Minister Tony Abbott is enjoying a personal poll bounce. Credit:Glenn Hunt

This is a large improvement for Mr Abbott who trailed Mr Shorten by 11 points in March.

Mr Abbott's personal rating also increased to a seven-month high of 37 per cent, although a majority (56 per cent) of voters continue to disapprove of his performance.