LABOUR'S lead over the Tories is being squeezed, according to the latest opinion poll.

And a majority of voters do not believe that Shadow Chancellor Gordon Brown will hold to his promise to keep tax and public spending down.

The ICM survey gives the Tories the faintest glimmer of hope as they head into the Wirral South by-election and then the general election campaign.

The survey, which takes into account those voters who do not admit they vote Tory, shows that Labours lead is down one point to 16pc.

It puts Labour on 48pc, the Conservatives on 32pc and the Liberal Democrats on 15pc.

But 55pc disbelieve Mr Brown's promise to peg both the basic and higher rates of income tax to the present level for the first five years of a new administration.

Only 25pc believe Labour will keep that promise.

And 60pc of voters believe that Labour would increase public spending. A senior Labour aide said: "We always accepted that our lead would be squeezed as polling day approaches.

"As for taxing and spending, we will nail Tory lies about our plans."

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