Rishi Sunak is said to be planning a general election in autumn 2024 because he believes a later vote will give him the best chance of a surprise victory.
Downing Street has tentatively scheduled general elections for October and November of next year.
According to the Telegraph, going later in the year increases the likelihood of turning around the battered economy and bringing down Channel crossings due to new laws cracking down on small boats.
It would also give the Conservatives more time to close the double-digit polling gap with Labour.
Given his uphill battle, Mr Sunak is said to have rejected the prospect of an early general election in spring 2024.
However, a firm decision is not expected until closer to the time.
The deadline for a nationwide vote is January 20, 2025.
It comes as recent Redfield & Wilton Strategies polling put Sir Keir Starmer’s party 14 points ahead of the Conservatives, indicating Mr Sunak is gradually closing the gap.
Labour received 44 points in the April 9 poll of 2,000 British adults, while the Conservatives received 30.
Labour is becoming more aggressive in its campaigning, with advertisements targeting Mr Sunak drawing criticism from within the party.