Chancellor George Osborne has said he "respects" Nigel Farage, but added that the UKIP leader did not have "answers to the country's future".
UKIP gained 155 seats in Thursday's council elections and some Tory MPs have suggested a pact between the parties at the next general election.
Mr Osborne told the BBC UKIP's vote had been due to public "anger and anxiety".
But the next general election would be a choice between Labour and the Conservatives, he added.
He promised that his party would work "incredibly hard" to win an outright parliamentary majority in 2015.
I respect Farage, says Osborne
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