Chancellor Gordon Brown and his Conservative shadow Michael Portillo have clashed over the economy and taxes as they took their campaigns to Wales.

Labour has been buoyed by an opinion poll showing it maintaining their 1997 lead in the Clwyd West constituency.

The NOP survey for HTV put Labour on 39 per cent, the Conservatives on 34 per cent, Plaid Cymru on 14 per cent and the Lib Dems on 12 per cent. The figures show both Labour and the Conservatives gaining two points since 1997.

Welsh Labour spokesman, David Hanson, said: "This is bad news for Michael Portillo as he visits Wales. It shows the Welsh people do not want uncosted tax cuts which would plunge the economy back into boom and bust."

Portillo's tour of south Wales focused on Conservative policies to cut taxes, cut red tape and keep the pound. His itinerary took him to a number of key seats, through which the Conservatives will be hoping to regain a Westminster presence in Wales.

The shadow chancellor also attacked Labour's spending plans. "If I came to Wales today and I said we are spending your money at this huge rate and I had to tell you that if you elected us we could not think of any way in which we could spend your money better, then I would feel ashamed," he said.

Gordon Brown's tour of south east Wales , in contrast, saw him concentrate on Labour's plans for increased investment in public services.

The Welsh Liberal Democrats issued a challenge to both Brown and Portillo over government spending in Wales.

Welsh Liberal Democrat Lord Carlile of Berriew said: "Gordon Brown and Michael Portillo present Wales with a double jeopardy. Gordon Brown threatens to leave Wales short-changed with funding that fails to reflect our poverty and needs. Michael Portillo threatens to cut back further on the poor deal we already have."

Plaid Cymru stepped up its attack on Labour's treatment of Welsh miners, seeking to gain support in Labour's heartlands.

Dafydd Wigley condemned the government's "latest raid on miners' pension funds". Labour was taking £549 million from the British Coal Staff Superannuation rather than channelling the money into pension increases, he argued.

"New Labour is pursuing a shameful practice of raiding miners' pension funds to pay those very same miners' compensation claims for industry-related diseases. This is immoral and offends any notion of fair play," said Wigley.