Britain votes on May 6 in what is expected to be the most closely-fought election since 1992, with the economy dominating the campaign.

Conservative leader David Cameron, whose party is leading in opinion polls, seems to have a reasonably good chance of ending 13 years of Labour Party rule and replacing Gordon Brown in Downing Street.

This is an important election for Britain and voters will have to take stock of the country's situation and decide in what direction they would like it to head in the future. The mood in Britain is sombre; the war in Afghanistan, the recession and the MPs' expenses scandal have clearly had an effect on the national psyche. There is also a huge debate in the country about the level of public services and the investment needed in this sector.

Although the Conservatives have consistently led in the polls, a Tory victory is not guaranteed. The gap between the two main parties has recently narrowed. The Conservatives need to win a number of important "target seats" in order to oust Labour and there isn't a massive swing towards Mr Cameron - at least not until now - as there was towards Tony Blair in 1997, which resulted in a Labour landslide.

As the campaign took off on Tuesday, the message from Mr Brown was for voters not to allow Britain's economic recovery to be wrecked by the Conservatives' planned spending cuts. Mr Cameron, on the other hand, said the Tories were fighting "for the great ignored" and offered Britain "hope" and "renewal" while the leader of the Liberal Democrats, Nick Clegg, said that only by voting for his party would voters get something "new".

Such messages are, of course, somewhat vague and the party leaders will have to be much more specific as the short campaign progresses. Cutting the huge deficit, for example, will have to be a priority for any new government but the question is to what extent should cuts be made without putting the economic recovery at risk or threatening the quality of public services. So far, it seems the Conservatives intend to make the biggest cuts but all three parties need to spell out their spending plans in greater detail.

This election, however, should not only be about cutting the fiscal deficit and improving public services. The parties need to make clear where they stand on political reform, such as further changes to the House of Lords as well as electoral reform, Britain's role in the world and in Europe, how much the military needs to be funded and how best to deal with the threat posed by Islamic extremists - many of whom are UK citizens - to Britain's security.

Mr Brown has had a difficult three years ever since he succeeded Mr Blair. He lacks his predecessor's charisma, has faced internal party revolts and has had to deal with the country's worst economic crisis for decades, including a record deficit partly as a result of Labour's excessive spending over the years. However, his handling of the recession has won him praise, which explains why his party has narrowed the gap with the Conservatives.

After 13 years in opposition, the Conservatives should win this election, although some polls suggest that a hung Parliament is now possible, which will radically alter the political landscape. Mr Cameron obviously needs to do a better job at explaining why change is necessary and why a Conservative government will not put the country's fragile economic recovery at risk.