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Nationals leader Warren Truss says he has no doubt Tony Abbott has the support of his colleagues.

Senior Liberals are closing ranks around Tony Abbott ahead of a make or break speech, with one declaring the prime minister is not finished.

Mr Abbott's leadership is under pressure as he prepares to jettison his paid parental leave scheme during a major policy address at the National Press Club in Canberra on Monday.

The speech is being touted as Mr Abbott's last chance to convince his party room to stick with him in the wake of a disastrous Queensland election result and the Prince Philip knighthood fiasco.

Fairfax on Monday reported Malcolm Turnbull and Julie Bishop were being pushed to mount a challenge and were consulting with each other about their options.

Publicly, Ms Bishop again backed Mr Abbott on Monday.

"Tony Abbott does have my support," she told reporters in Sydney.

"Today he will outline a strategic direction for us in the lead-up to the next election."

Speaking to reporters at Sydney Airport, Mr Turnbull said he talked to Ms Bishop all the time.

"The only thing we should be interested in on the political front today is the prime minister's speech to the National Press Club," Mr Turnbull said.

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Liberals rally around PM ahead of speech