Liz Truss with members of her team near the Houses of Parliament on Wednesday
(Picture: REUTERS)Betting firms have made Liz Truss the clear favourite to win the Tory leadership race after she survived the final ballot of MPs on Wednesday.
The Foreign Secretary has been installed as the 4/7 frontrunner by William Hill with Rishi Sunak 6/4 to replace Boris Johnson as leader of the Conservative Party and Prime Minister.
It comes after Penny Mordaunt - who had been favourite for much of the race - crashed out with 105 votes, eight fewer than Ms Truss.
Former chancellor Mr Sunak gained the most votes - 137 - but is regarded by the bookies as the underdog with polling of Tory party members who will decide between the two suggesting he is less well liked than Ms Truss.
William Hill spokesperson Tony Kenny, said: “We’re down to the final two in the Tory Leadership race after Penny Mordaunt was eliminated and Liz Truss is the one punters have come for at 4/7.
“Rishi Sunak may have got more votes amongst his fellow party members, but he’s the outsider at 6/4, with the majority of recent money all in favour of the Foreign Secretary.”
Irish bookie Paddy Power priced Truss at 8/15, marginally ahead of Mr Sunak who is priced at 5/4.
Betting firm Star Sports makes Ms Truss 4/6 favourite with Mr Sunak at 5/4.
Liz Truss was cheered by supporters after making it into the Tory leadership contest run-off on Wednesday afternoon.
The Foreign Secretary posed for photographs in Westminster with backers, including Attorney General Suella Braverman, Business Secretary Kwasi Kwarteng and Work and Pensions Secretary Therese Coffey.
When someone said it meant more hustings for Ms Truss, she quipped: “I can’t get enough of hustings.”
Ms Coffey said: “Ladies and gentlemen, we’re in it to win it.”
The elated group held “Liz for leader” and “Trusted to Deliver” placards.
In a video message, Mr Sunak told supporters “I won’t let you down.”
The former chancellor said: “I’ll work as hard as I can to get our message out to the country.
“We need to restore trust, rebuild the economy and reunite our country.
“I’m confident that we can do that and we've got a really important positive message to take out to all our members now - crucially, who is the best person to beat Keir Starmer and the Labour Party at the next election?
“I believe I'm the only candidate who can do that.”
