Party leaders as election campaign starts
Who will have the keys to Number 10 - and who will help them?Getty

The opposition Labour Party holds a one-percentage-point lead over Prime Minister David Cameron's Conservative Party ahead of the May 7 election, according to a YouGov poll for The Sun newspaper published late on Wednesday.

The daily poll put Labour at 35%, unchanged from a day earlier, and the incumbent Tories at 34% up one percentage point, The Sun said.

The UK Independence Party (Ukip), the current coalition partners Liberal Democrats and the Green Party remain at 13%, 8% and 5%, respectively, according to the latest YouGov poll, the newspaper said.

Polls have indicated that the most likely outcome will be a hung parliament where the race will be on to create a stable government either through a coalition or through a series of informal or formal deals to ensure that legislation is passed.