A survey of political experts and commentators says that Labour will win a second term but with a majority reduced by a half.

The 67 experts polled by Kalends predicted that Blair would be returned with a reduced majority of 88 seats.

Only 17 per cent thought William Hague's leadership would survive the experience, with 57 per cent expecting him to resign if Labour's majority exceeded 100 seats.

The news comes as the Tories face renewed speculation about the future of William Hague.

With candidates and MPs said to be increasingly nervous about the party's current poll position, it is claimed that the left-wing of the party is ready to back Michael Portillo as a successor following what is widely being predicted as a coming election defeat.

Hague yesterday put his troops on election stand-by, and is said to believe an April 5 poll is a distinct possibility.