Opinion polls point to hung British parliament

London : Two opinion polls yesterday indicated that no party was on course to win an overall majority in the upcoming British election, the latest surveys to point to a hung parliament as the most likely outcome.

Although the polls disagreed on which direction public support was heading, neither found the opposition Conservatives were set for outright victory over Prime Minister Gordon Brown‘s ruling Labour Party in an election expected in May.

An ICM poll for the News of the World newspaper put the Conservatives on 38 per cent, down three points, ahead of Labour, up one point on 32 per cent.

A survey by YouGov for the Sunday Times had the Tories up a point on 38 per cent with Labour down two points to 31 per cent.

The results would see the Conservatives becoming the largest party in parliament but without enough seats for an overall majority, according to a poll predictor on the Sky News website.

The surveys are the latest in a series of polls pointing to Britain‘s first hung parliament since 1974.

Financial markets fear a minority or coalition government would be reluctant to take the strong action investors want to cut Britain‘s budget deficit, forecast to reach £178 billion (Dh981 billion) this year.

A hung parliament could leave the smaller opposition Liberal Democrats as kingmakers with either the Conservatives or Labour needing their support to pass laws.

Lib Dem finance spokesman Vince Cable told The Observer he had held talks with the Treasury‘s top civil servant to discuss his party's economic policies in the event of a hung parliament.