Turnbull most popular leader, Shorten's fortunes falter

WITH Malcolm Turnbull as Prime Minister, the Coalition's fortunes have dramatically turned, with polls showing it is now ahead of Labor by two points - 51% to 49% after preferences.

The latest Newspoll results, published in The Australian, is the best government result since April 2014, before Tony Abbott's government delivered its first budget with Joe Hockey as Treasurer.

The change brings a 30-poll losing streak suffered by the government to an end.

Overnight, former Treasurer Peter Costello told Four Corners that in the Liberal Party, the right move is the one that's successful.

Turnbull himself has up-ended preferred Prime Minister fortunes for the government.

Turnbull is now 34 points ahead of Bill Shorten and the most popular leader in five years.

In the Newspoll earlier this month, Shorten was preferred Prime Minister, leading Abbott by four points.

Mr Shorten attempted to minimise the effect Turnbull's rise will have on his own political fortunes on the ABC's Q&A program.

"Let me state at the outset that I will not be worried about Malcolm Turnbull replacing Tony Abbott," he said.

"I think it is a good thing for this country that Tony Abbott is no longer PM of Australia."

Abbott meanwhile let fly on newly-appointed Treasurer Scott Morrison, disputing claims that Morrison warned the ousted PM ahead of Turnbull's leadership challenge.

He told the Daily Telegraph, "Not true, not true. Scott never warned anyone," Mr Abbott said.

"He certainly never warned me. I spoke to him on (the) Friday - not a hint of a warning.

"So I'm afraid Scott badly misled people. I was doing what I could to save the government, that's what I was doing."