The prospects of Gordon Brown calling an early General Election may be receding today after new opinion polls show the Tories have slashed Labour's lead.

The three latest surveys have cast real doubts over the likelihood of a November poll.

Two polls show Labour's lead cut to four points and three points, while the third has the two main parties neck- and-neck.

As the Premier prepares to make a decision this weekend over a November 1 or 8 election, the data appears to show that David Cameron's Tories could cut Labour's House of Commons majority heavily.

One poll also showed Mr Cameron's personal rating had been boosted, with 38% of respondents saying he had what it would take to be a good PM, compared with 56 per cent for Mr Brown.

Asked who had the answers to the problems facing Britain, 39% chose Mr Brown, 31% Mr Cameron and 20% LibDem leader Sir Menzies Campbell.

Last night, Transport Secretary Ruth Kelly appeared to brush off the latest data. She said on BBC1's Question Time: "I don't find it surprising at all. The polls bounce around. Over the summer the polls bounce around all the time.

"In the party conference season, they go up when Labour has them, they go up for the Tories... that's what you expect."

Ms Kelly said the issue of an early election was a matter for the Prime Minister but said she was "ready" for one.

As the debate raged on over the possibility of a snap election, Gordon Brown was given a welcome boost when former US President Bill Clinton said Mr Brown had the potential to be "a great Prime Minister".

Mr Clinton hailed Mr Brown's "exemplary" handling of the economy during a decade as Chancellor of the Exchequer and described him as an "intelligent, disciplined, profoundly concerned person".

He said that David Cameron appeared to be "an interesting fellow", but said he hadn't formed a clear picture of him.

Speaking to BBC Radio 4's Today programme, Mr Clinton gave his assessment of Mr Brown, who he has known since 1991 and describes as "a mate".

"He is an intelligent, disciplined, profoundly concerned person and I think he is capable of being a great Prime Minister and I think he is off to a good start."

Mr Clinton said he would like to meet Mr Cameron, adding: "He is a good presence for the Conservative Party, but that's about all I know."