New opinion poll setback for Labour

And voters also cast doubt on Chancellor Alistair Darling's bid to stimulate growth by cutting VAT, with just 6% saying they would spend more, while 26% said they would reduce purchases.

The survey, carried out by Ipsos Mori for The Observer, put the Opposition up five points to 43 - an 11-point advantage over the Government, which dropped three to 32.

The Liberal Democrats also gained three to 15%.

It was published 24 hours after another poll, by ICM for the Guardian, which gave the Conservatives a 15-point lead, and will disappoint ministers after initial polls conducted in the immediate wake of Monday's Pre-Budget report suggested the lead had been slashed to as few as four points.

People remain pessimistic about the prospects for their own finances, the latest poll found, with 38% expecting things to get worse, 45% anticipating no change and just 15% seeing better times ahead.

Despite that though, Mr Darling and Prime Minister Gordon Brown are still considered a significantly better (by 46% to 33%) team to manage the economy than David Cameron and shadow chancellor George Osborne.

The rival teams are level pegging when it comes to their ability to run the country overall.

Mr Darling told the Observer that more measures would be required in future months to help the economy recover, including legislation in the Queen's Speech next week to ensure banks resume lending.

"You'd be very foolish indeed to say, 'Well, that's the job done'. You know this is something that needs constant attention," he said.