Rishi Sunak has emerged as the favourite to replace Boris Johnson to be the next leader of the Conservative Party, according to our traders.
The odds have been slashed from 10/1 last week to 8/1 today – which puts the Chancellor of the Exchequer at the head of the betting, in front of Michael Gove (10/1) and Dominic Raab (16/1).
Sunak was promoted to Chancellor in February as part of a cabinet reshuffle, after the resignation of his predecessor Savid Javid, who is an outsider at 16/1 to be next Conservative Party leader.
Sunak previously served as Chief Secretary to the Treasury under Javid and has also been MP since the 2015 General Election for Richmond (Yorks) where he succeeded William Hague.
Alex Apati of Ladbrokes said: “All eyes are on who’ll eventually be replacing Boris and as things stand it’s Rishi Sunak who now heads the betting after leapfrogging Michael Gove last weekend.”
Ladbrokes Latest Betting:
Next Conservative Party Leader
Rishi Sunak – 8/1
Michael Gove – 10/1
Dominic Raab – 16/1
James Cleverly – 16/1
Jeremy Hunt – 16/1
Penny Mordaunt – 16/1
Sajid Javid – 16/1
View the latest UK Politics odds here
All odds and markets correct as of date of publication.