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Prime Minister Tony Abbott’s approval rating has dropped to a five-month low following what he described as a “ragged” week for the Coalition.

According to a Newspoll published in The Australian, the Labor party is more popular with voters, holding a substantial two-party-preferred lead over the Coalition, 54 to 46 per cent.

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Speaking to the Nine Network, Mr Abbott acknowledged the polls “aren’t so great”.

“But no-one said that the task of budget repair would be easy,” he said.

“I say to the people of Australia, we are delivering for you. That is what we set out to do when we were elected and every day this year that is exactly what we have done.”

Mr Abbott’s approval rating is at 33 per cent, falling eight per cent from September 19, when it was at 41.

The Coalition and Labor’s primary vote is still tied, however, at 37 per cent each, with the government gaining one point in the past fortnight.

Opposition Leader Bill Shorten continues to be preferred prime minister with voters, 43 to 36 per cent, with Mr Abbott trailing in the polls since November 14.

This is the second time in one week Mr Abbott has had to defend the performance of his government.

In a marathon press conference on Monday, the prime minister conceded the past week had been a “ragged week for the government”, with the GP co-payment blocked in the Senate and unpopular cuts to the ABC met with widespread criticism.

However, he argued, the past year had been one of “considerable achievement”.