The odds on Liz Truss to step down as Conservative party leader in 2022 have been slashed to 20/21 from 3/1 following the shock sacking of Chancellor Kwasi Kwarteng. Odds released from Betfair say Rishi Sunak is the 2/1 favourite to replace her, with Penny Mordaunt next at 5/1 and Boris Johnson 12/1.
It has been a rollercoaster week for Truss, Kwarteng and the beleaguered prime minister's wider government. Kwarteng's budget is widely considered to be the source of financial upheaval that saw the Bank of England enact a £65 billion gilt intervention in order to prevent further financial turmoil in the UK markets.
Here is the list of top Tory favourites who could replace Truss in the event of her resignation.
