Young Australians reject budget as One Nation popularity climbs further

The Redbridge poll found Pauline Hanson was the preferred prime minister among gen X voters. (ABC News: Matt Roberts)

Labor's budget has been poorly received across all demographics, according to a Redbridge poll.

One Nation's primary vote continues to climb and now leads against both major parties..

Pollster Tony Barry says Labor has "a lot of ground to cover" to improve voter perceptions.

Labor's federal budget is falling flat with its target demographic, as millennials say they would rather vote for One Nation than Labor or the Greens, and gen Zs remain mostly oblivious to the proposed tax changes.

According to a Redbridge poll published on Sunday night, among millennials, One Nation is now out-polling Labor, at 30 per cent compared to 28 per cent, though its share of the primary vote remains at just 10 per cent among gen Z voters.

However, just 6 per cent of gen Z self-reported that they had noticed "a great deal" about the budget, while 47 per cent claimed they had not noticed "very much". Fourteen per cent said nothing at all.

Redbridge director Tony Barry said: "Those that do know about the budget, don't like it."

"It's as if Labor designed a budget to turbocharge more anti-establishment sentiment and pump up One Nation's tyres.

"Labor is losing the conversation about the budget and have a lot of ground to cover to improve voter perceptions and recover that lost primary vote."

Tony Barry is a former Liberal Party strategist. (Four Corners: Greg Nelson)

According to the Redbridge survey, assessments of the budget across all demographics were "broadly negative" with "a plurality of voters believing it will be both bad for the country as a whole and bad for them personally".

While the youngest voters remain the most optimistic, 58 per cent of gen Zs responded that they thought Australia was heading in the wrong direction.

While politicians insist they do not pay attention to opinion polls, the Redbridge results will no doubt trouble Labor strategists and MPs, who designed the federal budget with intergenerational equity in mind.

The government has repeatedly stated the combined impact of the negative gearing and capital gains tax discount changes will enable 75,000 first home buyers to enter the market over investors.

Treasury modelling released over the weekend suggests home ownership has fallen by 3 per cent, or 280,000 homes, since the Coalition introduced the 50 per cent CGT discount in 1999.

Of that, the fall in home ownership has most acutely affected young people.

The government says the budget measures will enable 75,000 firs