The Abbott government has drawn level with Labor in a post-budget poll that displays the best result in more than one year for the Prime Minister.

Following the May budget hand-down, a Fairfax-Ipsos poll has found support for the Coalition and Labor is at 50 per cent each, a marked increase for the government since April’s 46-54 result.

In the first time since April last year, Tony Abbott has shot into the lead, ahead of Labor’s Bill Shorten, as the preferred prime minister, at 44-39.

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Mr Abbott’s approval rating – sitting at minus eight – has climbed by eight percentage points while Mr Shorten’s has sunk to minus four, according to Fairfax.

The ALP’s primary support was down three points since April to 35 per cent, while Greens support has increased fractionally to 13 per cent.

The Fairfax-Ipsos poll canvassed 1403 voters between Thursday and Saturday.

The results mirror a Galaxy poll, published on Saturday, which revealed the coalition had jumped 10 points to trail Labor by only two points on a two-party preferred basis.