A majority of voters have backed the federal government’s $2.4 billion rescue package for a troubled major steelworks.

The mega takeover to protect jobs at the Whyalla steelworks in South Australia was heralded by locals and will enable a search for a new owner for the plant.

Latest polling by YouGov, found 62 per cent of those surveyed supported the steelworks deal and public ownership of the plant announced last week.

That included 61 per cent of people who intend to vote Liberal at the upcoming election.

Australia could not afford to let one of only two steelworks in the nation disappear, Prime Minister Anthony Albanese said when announcing the massive package.

But a cut in interest rates that bolstered the fortunes of mortgage holders has failed to translate to an uptick in the political fortunes of the government, the polling shows.

The latest YouGov poll showed the Coalition maintaining a 51 per cent to 49 lead over Labor on a two-party preferred basis.

The Coalition’s primary vote stands at 37 per cent, compared with the government’s 28, while the Greens are on 14 per cent and independents on 10.

The poll showed Albanese had a net satisfaction of -12, with 40 per cent satisfied compared with 52 per cent dissatisfaction.

Opposition Leader Peter Dutton had a net satisfaction of -2, with 44 per cent satisfied and 46 per cent dissatisfied.

But Albanese held a narrow lead as preferred prime minister, leading 42 per cent to 40 over the Liberal leader.

The Coalition’s primary vote is 37 per cent in YouGov polling, while Labor’s is 28 per cent. Photo: AAP

It’s the first poll conducted by YouGov since the Reserve Bank ‘s decision earlier in February to cut interest rates, the first downward shift for almost five years.

YouGov director of public data Paul Smith said that while the cut to the cash rate might have been expected to be a vote winner for the government ahead of the election, in fact it had little bearing on its political standing among voters.

“We asked voters prior to the rate cut and we asked people after as well, and 90 per cent said it will make no difference to their vote,” he said.

“Polling shows consistent support for government policies across a range of things, but they haven’t been turning into that support at the ballot box.”

The election must be held by May 17 at the latest, but there is speculation Albanese could call the poll in a matter of days.

Smith said it was too early to indicate support among voters for the government’s $8.5 billion Medicare package to expand bulk-billing. Polling began before that announcement last Sunday.

The YouGov poll also revealed voters have not flocked to Clive Palmer’s new political venture Trumpet of Patriots.

It was launched in Canberra last week, with the mining magnate looked to lift many policies from US President Donald Trump.

However, just 1 per cent of voters indicated they would give Palmer’s party their primary vote.

“This is a very low level of initial support for the new party given [the survey was] conducted entirely after the launch that received extensive media coverage,” Smith said.

The poll of 1501 people was conducted between February 21 and 27, which had a margin of error of 3.3 per cent.

-AAP