A May 6 general election is looking increasingly likely, following Gordon Brown's confirmation that the budget will take place in two weeks time.

The Prime Minister confirmed the budget scheduling during a key speech pledging to pull the economy through the "storm" of recession. The March 24 date prompted commentators to describe a May 6 election as "practically inevitable" and a "no-brainer".

Gordon Brown used a speech to a city audience to declare he he had the "character" to lead Britain through to economic recovery. He said the economy was at a "crossroads" and promised that the Government would be "swift and unwavering" in its actions to protect economic growth.

He said: "The stakes are high. We dare not risk the recovery. For our task above all else is to preserve and expand the jobs - and lift the standards of life - of the British people.

"We are weathering the storm - now is no time to turn back. We will hold to our course. And we will complete this mission. We have got through this storm together but there are still substantial risks ahead. There will be bumps in the road.

"And I believe the only way to overcome them is by displaying the same strength and resolve as we did during the crisis. I will not let you down."

He also insisted that it was not a matter of voters choosing between "policy" and "character", as the two issues were inextricably linked.

He said: "It is for other people to judge but I believe that character is not about telling people what they want to hear but about telling them what they need to know," he said.

"It is about having the courage to set out your mission and the courage to take the tough decisions and stick to them without being blown off-course, even when the going is difficult. For better or for worse, with me what you see is what you get."

Mr Brown's confirmation of the scheduling of the budget is the strongest indicator yet that the UK Government will go to the polls on May 6.

Holding the general election on May 6 would save money and the efforts of activists as it coincides with local elections in England, according to experts.

The move could also help Labour, whose success depends to a "massive extent" on getting their core vote out, one opinion pollster said.

Andrew Hawkins, executive chairman of research and polling group ComRes, said: "The people who are in the demographic groups who are most likely to vote Labour at the moment are more than twice as likely to say that they won't vote as people in the higher income brackets.

"If you take the Labour seats where the incumbents have been caught out in the expenses scandal and they are trying to clear their name, they need all the votes that they can possibly get.

"The best way to do that is to coincide with the local elections."

He added: "It seems inconceivable that a decision on any day other than May 6 would be at all defensible, not least for the Labour activists who would otherwise be required to canvass for two elections, and of course, the cost of running an election at a different time from the general election.

"I have confirmed my hotel reservation for May 6 in central London."