Liz Truss’s resolve to falter on economic plans and calls by members of her Conservative parliament to change course amid market turmoil have made the prime minister’s position look increasingly precarious.
Just five weeks into No. 10’s tenure, her MPs are already discussing how to remove her from office. This has led bookmakers to run “Liz Truss Specials” bets on their website, the odds of Coral changing PM on 5th March this year.
After finishing second to Truss in this summer’s Conservative leadership election, Rishi Sunak is now Sky Bet’s favourite to take over if the prime minister is forced to step down. The former chancellor warned during the campaign that Truss’ plan could lead to the kind of market impact seen now, with a 2 in 1 chance of him succeeding her.
Sky Bet will pay $11.30 for every £1 bet on Truss’ ex Boris Johnson’s return to Downing Street. That makes the former leader, who left amid scandals, more likely to be Truss’ successor than cabinet members such as International Trade Minister Kemi Badnock and Foreign Secretary James Cleverley.
Commons Leader Penny Mordout and Defence Secretary Ben Wallace are the other main Conservative contenders to succeed Truss. Opposition Labour Keir Starmer is Sky Bet’s second favourite, but bookmakers’ odds suggest the next election won’t be held until 2024, and he’s unlikely to be Truss if she falls in the days or weeks ahead ‘s successor.
The odds of betting on politics should be taken with a pinch of salt. On the market side, they reflect the views of retail investors, not the views of professionals who analyze these things for life. Still, they suggest that concerns may be growing about Truss’ ability to lead Britain and whether the Conservatives will step in to protect their party from another drop in public confidence.
Here are the odds offered by bookmakers shortly after noon on Friday:
Next PM Sky Bet Coral PaddyPower
Rishi Sunak 2/1 5/2 12/5
Keir Starmer 3/1 6/4 3/1
Penny Mordout 9/2 5/1 5/1
Boris Johnson 10/1 8/1 10/1
Ben Wallace 12/1 14/1 11/1
Kemi Badnock 16/1 14/1 22/1
James Smart 33/1 40/1 50/1
Tom Tugendhat 66/1 33/1 80/1
(Apart from the title, this story was unedited by NDTV staff and was posted from a syndicated feed.)