The results of the elections across the country this week have seen the Labour party with things to smile about as well as reasons to worry.
For example, they won in the Welsh Assembly, but didn’t have enough seats to gain a major, and were pushed into third in Scotland by the Conservatives.
Sadiq Khan’s victory in London was to be expected, due to his increased popularity compared to Zac Goldsmith, while votes for English council elections were a mixed bag.
Labour managed to keep hold of seats they were predicted to lose, but also didn’t make significant gains in areas they were expected to flourish.
Questions still remain over Jeremy Corbyn’s leadership, but you can expect him to see out the year still in his role.
However, he hasn’t done enough to silence his doubters and enemies in the party still have enough reason to question the 66-year-old.
Calls for a more electable centre-ground politician to become leader will also be strengthened by the success of Khan.
The new London Mayor was noted as a ‘hostile’ in the infamous leaked Corbyn list, where his advisors analysed his support.
Seeing the Tooting-born politician do so well, beating Goldsmith by 13.6%, shows that the public are incline to vote for someone with his leanings.
Therefore, before the General Election rolls around, almost certainly in 2020, it’s looks guaranteed that the anti-Corbyn camp will try to get him ousted.
Backing Corbyn to be replaced in 2017 is priced at 7/2 and would allow whoever comes in over two years to get the party ready for making a play for government.
In terms of who would come in to replace the Islington MP, the most likely option of the current runners is the 16/1 priced Angela Eagle.
The Shadow Secretary of State is listed as neutral in Corbyn’s list and would be able to appease his enemies without alienating his core group.
All Odds and Markets are correct as of the date of publishing.