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.
Favourite to be next Conservative Prime Minister
- Rishi Sunak: 2/1
- Penny Mordaunt: 5/1
- Ben Wallace: 17/2
- Kemi Badenoch: 9/1
- Boris Johnson: 12/1
- James Cleverly: 18/1
- Suella Braverman: 25/1
- Sajid Javid: 30/1
Betfair spokesperson Sam Rosbottom said: “We’ve already seen one departure from Downing Street today. The odds now suggest there could be another by the end of the year.
"As groups of disgruntled Tory MPs grows, punters have seen enough of Truss and have backed her into 20/21 from 3/1 in the last hour.
“Truss’ former leadership rival Rishi Sunak is the 2/1 favourite to return to Downing Street and upgrade his previous residence to number 10. Penny Mordaunt is next at 5/1, whilst a return for Boris Johnson is 12/1.”
Despite facing chorus calls to resign, Truss continues to operate as if it is business as usual. Team Truss carry on posting regularly across social media - one of her recent tweets was at 1.53pm when she announced her new Chancellor Jeremy Hunt.
Truss may be hoping the change in personnel in her senior team may deflect attention from her own precarious situation. However this has not been the case as the Scottish Lib Dems are the latest party to call for a general election after Kwarteng's ignominious exit today.
