Gordon Brown's refusal to comment on the possibility of a snap General Election fuelled speculation last night on the margins of Labour's annual conference in Bournemouth.

Mr Brown is considering going for a quick election in November, mostly likely the 8th, but he is facing conflicting advice from within the party. If he held an election in November it would be the first to be held in that month since 1935.

Even amongst his closest aides opinion is split, and on both sides of the divide opinion polls are pored over with forensic precision. Although the Labour strategists believe the underlying trends on leadership and competence are running in their favour, many of them are not yet convinced that they have enough evidence to go on.

During the question and answer session yesterday with Mariella Frostrup, the Prime Minister laughed when she asked when he would go to the polls. "Charming as you are, Mariella, the first person I would have to talk to is the Queen," he replied.

Douglas Alexander, the International Development Secretary, and General Election supremo, has advocated a quick dash to the polls, and although Ed Balls, another of Mr Brown's close allies believes an early election may be in Mr Brown's interest it is understood he may be more cautious than Mr Alexander.

Asked yesterday if the Prime Minister was prepared to risk an early election, he said: "It's a very interesting question as to where the gamble really lies."

Views within the Scottish parliamentary party are mixed. Some are enthusiastic about an early poll but others are equally adamant that the Scottish party is not ready. Senior Scottish MPs have told Mr Brown that the clocks going back and bad weather would militate against the Labour vote, and they have also pointed that many people in Scotland are election weary - having already endured Holyrood and council elections earlier this year.

Experienced election strategists have given Mr Brown different advice. One senior Labour figure said that if he did not go to the country now it would be much harder for him to go next year, and he would have to wait until 2009. Others said that if he did go now, the electorate might rightly ask why'.

While serving cabinet members do not want to go on the record, Margaret Beckett, the former foreign secretary, yesterday warned colleagues of the volatility of the polls - and recalled how difficult it had been to get voters to the polls in October 1974.

Commentators have suggested that there is a generational split between the older cabinet members who would be happy to finish this term in government, and the younger Labour politicians who want to hang onto power for another two terms at least.

Contrary to rumours circulating at Bournemouth, Mr Brown will not make any announcement during next week's Tory Party conference. Labour strategists prefer the prospect of further Tory turmoil, as predicted so far, rather than a pre-election rally.

An early announcement would also undermine the Prime Minister's pledge to have a vote in the Commons on the dissolution of parliament and the calling of an election.

He is also committed to making a statement about Iraq, and while he is expected to make a major announcement about troop withdrawal, he would not like it to become embroiled in an election campaign.

The Tories, meanwhile, say they are ready to fight an election whenever it is called.

George Osborne, the shadow chancellor, said: "We have had more than enough time to prepare. Gordon Brown, this supposed political genius, has taken all the surprise out of an autumn election. We're all geared up. We have a £10m election budget guaranteed by our party treasurers for the initial election period."