Theresa May holds a 56 point advantage over Jeremy Corbyn over who is doing a good job, a new poll says.

The prime minister has a +22 rating, with 46 per cent positive to 24 per cent negative, whereas Corbyn has a -34 rating, with just 20 per cent of people surveyed thinking he is doing a good job to the 54 per cent thinking he is doing poorly.

The approval rating is calculated by those who say the politician is doing a good job minus those who believe they are doing a bad job.

The Guardian/ICM survey also reveals that the Conservative party could expect 42 per cent of the vote, were a general election to be held tomorrow, whereas Labour could only expect 28 per cent. The Tory lead of 14 per cent is down two points from the start of the month, and Labour is up one point.

One in five of those polled supported giving a peerage to Nigel Farage, with 58 per cent of people thinking he should not receive one. Even amongst UKIP voters, only 58 per cent think he should enter the Lords.

Those polled, when asked who was best able to manage the economy, 48 per cent said May and Philip Hammond with only 15 per cent backing Corbyn and John McDonnell. The lead of 33 points posted by the Conservatives surpasses the gap that George Osborne and David Cameron recorded when Ed Miliband and Ed Balls hit their low point on economic credibility, which was 27 points.

Amongst those who voted Labour in 2015, McDonnell and Corbyn have only a six point lead on running the economy, with 34 per cent favouring Labour’s team to 28 per cent thinking Hammond and May are a better team. Amongst Conservative voters, the chancellor and prime minster enjoy an 88 point lead.