May's poll lead narrows to 3 points a week before UK election

British Prime Minister Theresa May's gamble on a snap election was under question on Thursday after the latest opinion polls showed her Conservative Party's lead was dwindling just a week before voting begins.

Theresa May, UK prime minister and leader of the Conservative Party, speaks to workers during a general election campaign stop in Pontefract on June 1, 2017.

Failure to win the June 8 election with a large majority would weaken May just as formal Brexit talks are due to begin, while the loss of her majority in parliament would pitch British politics into turmoil.

In the strongest signal yet that the election is much closer than previously thought, May's lead has collapsed from 24 points since she surprised both rivals and financial markets on April 18 by calling the election.

A YouGov survey showed May's lead at a fresh low of three percentage points with the opposition Labor party polling 39 percent against the Conservatives' 42 percent.

Jeremy Corbyn, leader of Britain's opposition Labour Party, gives an election campaign speech in Basildon on June 1, 2017.

There was slightly better news for May from a Panelbase poll which put her party eight points ahead of Labour, but that still meant the Conservatives' advantage had almost halved in a week.

Meanwhile a separate YouGov model based on different data estimated the Conservatives would win 317 seats, nine short of an overall majority of 326 seats.

Betting that she would win a strong majority, May called the snap election to strengthen her position at home as she embarked on complicated Brexit negotiations with 27 other members of the European Union.

But if she fails to beat the 12-seat majority her predecessor David Cameron won in 2015, her electoral gamble will have failed and her authority will be seriously undermined.

If May failed to win an overall majority, she would be forced to strike a deal with another party to continue governing either as a coalition or a minority government.

That would have uncertain consequences for Britain's 2.5 trillion US dollars economy, and future government policy on everything from government spending and corporate taxation to bond issuance.

(REUTERS)