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Labor still election favourites: Newspoll

The latest Newspoll shows voters back Labor to win the next federal election. (AAP)

With an election expected to be called within days, the latest Newspoll suggests the coalition is closing the gap, with support for Labor slipping slightly in the wake of the federal budget but still strong enough to indicate an opposition victory.

Treasurer Josh Frydenberg handed down a handful of short-term cost-of-living savings to voters in Tuesday's budget, which Labor described as a clear attempt to buy votes ahead of the election, which is expected to be called within a matter of days for May 14.

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