The choice between an election in July or November is “paper thin” now, senior government sources say.
But Tory MPs reacted furiously to the talk of an early election – warning they could topple him as PM if he dares call an early election.
The PM could use next month’s local elections to announce a date for an election in June or July, government insiders said.
A source said: “If the local elections are really bad we will probably have to go in November. If it is really good then we probably go in November.
“But is there a spot in the middle where you call it?
“There is a world in which you get Rwanda through, a flight goes off and you think – f**k it lets go.
“Ultimately it is the PM’s decision – and it is a hell of a call.
“It is genuinely paper thin these options – there is not much between them now.”
But No10 are worried about a huge backlash among Tory MPs if they do call an election.
And a furious Tory MP warned they could try to oust Mr Sunak as PM if he tries to trigger an early election.
The MP fumed: “It will push some of us over the edge.
“If we think that after locals Rishi will pull the trigger on the election, maybe we will think we will put letters of no confidence in now to head that off.
“It is better to hand the baton on to someone else to be PM than get slaughtered in an election now.”