The economy and tax proved a key flashpoint as the main party leaders took part in their only face-to-face clash of the general election campaign.
At Commons questions, Tony Blair said Labour was the party of economic competence and accused the Tories of "running away" from debating the issue.
But Tory Michael Howard said Labour had broken its last poll pledges, and asked why people should believe Mr Blair now.
Lib Dem Charles Kennedy said Labour had been unfair to students and pensioners.
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WEDNESDAY'S CAMPAIGN
Prime minister's questions
Tony Blair and Gordon Brown stage joint news conference
Michael Howard launches plans to tackle "yob culture"
Lib Dem leader Charles Kennedy launches families manifesto in Southampton
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Wednesday's Commons encounter was the last prime minister's questions before the election.
With a television debate between the party leaders ruled out, it was their only chance for a head-on confrontation during the campaign.
Mr Blair hailed economic stability under Labour.
He told MPs voters would realise the Tories were offering the "same crew they rejected in 1997".
"I say to the British people: economic stability is at risk, your job is at risk, your mortgage is at risk, the economy is at risk," he said.
Mr Blair said he was proud of Labour's twin achievement of a strong economy and investment in schools and hospitals.
In a highly-charged session, the Conservative leader said Mr Blair had broken promises on raising tax and introducing tuition fees.
"In the words of the chancellor, why should people ever believe a word he says ever again," he said.
'Yobs'
Echoed by Tory MPs chanting in unison, Mr Howard said crime, immigration and taxes were "up" while take-home pay, pensions and detection rates were "down".
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HAVE YOUR SAY
Childish, boorish, arrogant pantomime behaviour
Paul Mitchell, Glasgow, Scotland
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Mr Howard later said he planned to give "yobs a dose of the fear" they had been dishing out to the rest of society with measures against nuisance behaviour.
Mr Kennedy also asked Mr Blair how people could believe his pledges.
He pointed to the "fundamental unfairness" that women did not receive a full state pension automatically - instead it was based on their national insurance.
And he complained that university top-fees meant young people were saddled with thousands of pounds of debts.
His party on Tuesday welcomed a Labour defector but on Wednesday suffered a defection itself. Outgoing Lib Dem MP Paul Marsden is joining Labour - the party he left in 2001.
In Southampton, Mr Kennedy promised mothers a guaranteed income of £170 a week for six months after the birth of their first child as part of policies for families.
Job promise?
Meanwhile, in a joint press conference with Chancellor Gordon Brown, Mr Blair again hinted that his colleague would keep his job after the election.
Tory leader Michael Howard is to focus on 'yobs'
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He bristled when pressed on the issue but said: "This is probably the most successful chancellor, in Gordon Brown, that the country has had for 100 years ... we would be pretty foolish to put that at risk."
In Scotland, the Scottish National Party launched its campaign in Dundee, hailing policies saving Scottish regiments, extra police instead of ID cards and better non-means tested pensions.
In Wales, Plaid Cymru says it offers the only real alternative.
The UK Independence Party, which wants Britain to leave the EU, has announced it will put up 500 candidates for the poll.
And the Greens say they will field 25% more candidates - 200 altogether.