Hung parliament also proving popular with punters as gap is cut to just two points

The latest General Election polls do not make good reading for the Conservatives and bookmakers have again cut the odds on Labour staying in charge following the forthcoming showdown.

Opposition leader David Cameron insists he is not concerned by the apparent drop in support for his party, having let slip a lead of 10 points in just over a month.

“The polls move around a lot,” he told The Sunday Times. “The voters tell us that they want change. They want to know the Conservative party itself has changed.”

However, with suggestions that the Conservatives' lead is down to just two points, Coral have slashed the price of Labour to 9/2 and pushed the Tories out to 2/17, wehereas the betting was 8/1 and 1/20 only a few weeks ago.

And with the parties so close now, the prospect of there being no overall majority is proving the popular bet, with Coral forced to cut the price of a Hung Parliament to 13/8 from 5/2 earlier in the month.

A Labour majority has also been trimmed to 12/1 from 14/1, whilst the Tories are 1/2 from 1/3 for a majority win.

"It looked all over a few months ago, with Labour trailing in the polls and Gordon Brown seemingly on his way out," said Coral spokesman Gary Burton.

"But it's all change after an incredible recovery and, like the Premier League title race, it looks like a close run battle will go down to the very end."

Ladbrokes are offering 1/6 that the General Election takes place in May as expected, whilst it is 5/1 for an April battle of the ballot boxes.

The same firm also go 10/1 there will be two or more General Elections held in the United Kingdom this year.