The Federal Opposition has lost voter support in the wake of last week’s company tax bungle.

The latest Newspoll shows Opposition leader Bill Shorten’s leadership continues to come under pressure as Labor heads into five crucial by-elections.

Prime Minister Malcolm Turnbull holds a 15 point lead over Mr Shorten as preferred PM and the Coalition has narrowed Labor’s two-party preferred lead to two points.

It follows Mr Shorten’s disastrous week on corporate tax policy where the Opposition leader was forced to backflip on a decision to increase taxes for some businesses.

One half of Big Guns Graham Richardson tells Chris Kenny “at least he knew it was stupid”.

“Sometimes there are things you do that you just have to walk away from.

“It happens in politics to the good, the bad and the ugly. It happened to him this week.”

Andrew Bolt says the Labor party should think twice before panicking.

“After the worst week of Bill Shorten’s leadership where he announced a stupid policy without the support of his shadow cabinet, reversed it in three days and got piled on by every media outlet in the country… in the latest news poll Labor’s still to win the election.

“How does that work?”

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