Poll: Labour and Tories neck-and-neck on economic competence

Labour are now as trusted with the economy as the Conservatives, according to a new poll.

Ed Miliband and Ed Balls have finally earned as much trust on the issue as David Cameron and George Osborne – the first time Labour has pulled ahead on the economy since 2007.

"Labour's lead is the highest for over a year, and they have closed the gap on economic competence – but even after the worst received Budget for over 15 years, they still have work to do to become the most trusted on this key issue," said Gideon Skinner, head of political research at Ipsos Mori, which conducted the poll for the Evening Standard.

Thirty-one per cent favour the Conservatives to manage the economy compared to 30% for Labour. The one-point Tory lead is reduced from ten in September last year.

A daily YouGov tracker poll for the Sun also reflected well on the opposition, with Labourpreferred by 27% of respondents to the Tories' 26%.

That poll was historic for giving Labour a 14-point lead in general support – the most substantial it has enjoyed since the firm was set up in 2002.

The YouGov poll put Labour on 45% to the Tories' 31%, giving it a massive 14-point lead.

Meanwhile, Ukip took third place with eight per cent support, while the Liberal Democrats languished at fourth with seven per cent.

The Ipsos Mori poll saw a more subdued ten-point lead, with Labour on 43%, the Conservatives on 33% and the Lib Dems on nine per cent.

Mr Cameron and Nick Clegg saw their worst personal approving ratings ever. The prime minister is on -28, down eight since last month, while the deputy prime minister is on -39, also down eight. Ed Miliband's ratings are unchanged on -16.

Two-thirds of respondents said they were unhappy with the way the coalition was running the country.