Britain's parliamentary election takes place this Thursday, May 7, and, according to the latest polls, no party look set to win by an outright majority.

Reuters reports that Prime Minister David Cameron's ruling Conservatives and Ed Miliband's opposition Labour Party are currently tied at 33 percent in the latest YouGov opinion poll.

Another survey by Populus shows that support for the United Kingdom Independence Party party fell two points to 13 percent, while the Liberal Democrats, the junior partner in the current Conservative-led coalition government, were up one point to 10 percent. In this poll, the two main parties were tied at 34 percent.

Labour and the Conservatives are neck and neck, though none are expected to win by the required majority of 325 seats, meaning another "hung parliament" is expected.

Both parties are then expected to negotiate with other parties to form a coalition government or for voting support.

Thursday's election is expected to be closest in decades.

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