Michael Gove installed as favourite to be next Chancellor

Michael Gove is the 4/1 favourite to be the next Chancellor of the Exchequer, according to the latest update from our trading floor.

Following reports that the Environment Secretary has been auditioning for the Chancellor’s role, we’ve installed Gove as favourite to displace Philip Hammond in the post.

The 50-year-old is followed in the betting by Home Secretary Amber Rudd and Sajid Javid at 6/1 apiece.

Meanwhile, Labour’s Shadow Chancellor John McDonnell is 8/1 to occupy the role next. And you can get 10/1 on either of David Gauke or Jeremy Hunt ousting Hammond.

However, our odds-crunchers have effectively ruled out Jacob Rees-Mogg as a future Chancellor, with the MP for North East Somerset priced up at 16/1.

Jessica Bridge of Ladbrokes said: “We’re not convinced spreadsheet Phil is leaving just yet, but depending how next week’s Budget goes and should punters believe the rumours, 4/1 might look like a good bet for another Brexiteer taking a top job.”

Ladbrokes Latest Betting:

Next Chancellor of the Exchequer

Michael Gove – 4/1

Amber Rudd – 6/1

Sajid Javid – 6/1

John McDonnell – 8/1

David Gauke – 10/1

Jeremy Hunt – 10/1

Chris Grayling – 12/1

Greg Clarke – 12/1

Jacob Rees-Mogg – 16/1

20/1 bar

All Odds and Markets are correct as of the date of publishing