Malcolm Turnbull’s rating as preferred Prime Minister has taken a dive in a new poll.

The Seven News-ReachTEL poll released on Tuesday found 60 per cent of voters rated Mr Turnbull as preferred PM, with 40 per cent backing Labor leader Bill Shorten.

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Mr Turnbull’s rating was down from 74.9 per cent in early February, while Mr Shorten’s was up from 25.1 per cent.

The Coalition held a 52-48 two-party-preferred lead – the tightest gap in the ReachTEL poll series since Mr Turnbull seized the Liberal leadership in September 2015.

Asked about the Prime Minister’s ultimatum to parliament to pass workplace laws or face a double-dissolution election, 39.3 per cent of voters were in support, with 32.5 per cent against and 28.2 per cent undecided.

ReachTEL surveyed 3274 people across Australia on March 21.