Socialists cut PP's lead in polls by three points

The governing Socialists have cut the opposition Popular Party's lead in the polls by three percentage points after Alfredo Pérez Rubalcaba announced his candidacy for prime minister, according to a survey released on Wednesday.

If the elections were to be held today, the PP would win with 43.1 percent over the Socialists, who would stand to garner 36 percent of the vote, the state-owned Center for Sociological Studies (CIS) said.

In April, the CIS gave the PP a 10-point lead over the Socialists. The latest survey of 2,475 people was conducted from July 4 to 11, after Prime Minister José Luis Rodríguez Zapatero said he would not run for a third term. Rubalcaba was subsequently picked as the Socialist candidate.

Zapatero has been facing major credibility problems with voters. Of those interviewed, 81.5 percent said they have little or no confidence in him because he has been unable to jumpstart the economy or bring down Spain's high unemployment rate.