Foreign Affairs Minister Julie Bishop says the Prime Minister will lead them to the next election, despite speculation a leadership challenge is on the horizon.

Prime Minister Malcolm Turnbull is fending off claims his leadership is in trouble, amid speculation Home Affairs Minister Peter Dutton may challenge for the top job.

In a bid to sure up his position, Mr Turnbull has announced further changes to his energy policy, scrapping plans to legislate an emissions reductions target.

The move comes as a Fairfax-Ipsos poll reveals Labor has opened a 10 point lead over the Coalition after preferences.

Deputy Liberal leader Julie Bishop tells Ben Fordham she believes Malcolm Turnbull will lead them to the next election and he has the “vast majority” of the party room’s support.

“I’ve seen this movie before, Ben, many times.

“I’ve seen it on both sides of politics.

“The fact is, Malcolm Turnbull has my support as leader.”

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Ms Bishop insists she and the Home Affairs Minister are part of a “united team”.

“We’ve been working on this energy policy for some months and this will continue to go on.

“We have to keep working to find ways to bring energy prices down.”

She says the Prime Minister’s backtrack on energy was a result of ACCC recommendations, not leadership fears.