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'Incredible honour': One Nation surges ahead of Labor

One Nation has eclipsed Labor to become the most popular political party in the country, according to a new poll.

Support for One Nation has risen four points to 31 per cent, a Redbridge Group/Accent Research poll, published on Monday by The Australian Financial Review, shows.

Labor's primary vote is at 28 per cent, down three points since the poll firm's last survey a month ago and the government's budget that was announced on May 12. The coalition dropped two points to 20 per cent.

One Nation MP Barnaby Joyce said the poll was an "indicator, not a vote" and said the right-wing party wasn't getting ahead of itself.

"That would be hubris. It's an incredible honour," he told Seven's Sunrise program on Monday.

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