Boris Johnson is set to announce his resignation as Conservative leader in the coming hours, staying on as prime minister until a new party leader is named.
At the same time, betting companies are preparing for the succession race, betting on the leading candidates for the reins of the country, as reported by Bloomberg.
Trade Secretary Penny Mordant, who is seen in the party as having strong Brexit credentials, charisma and good leadership qualities, is seen as the favorite to succeed Johnson. Tellingly, Sky Bet are betting £4 to 1 that Mordant will be the next Tory leader.
Rishi Sunak, until recently the finance minister, is the second most likely candidate.
Defense Secretary Ben Wallace, Foreign Secretary Liz Truss and former Health Secretary Sajid Javid round out the top five contenders for the Tory leadership, according to Sky Bet.
Underdogs include new Finance Minister Nadeem Zahawi and former Foreign Secretary Jeremy Hunt, with odds for the two politicians ranging at 9/1 and 12/1 respectively.
However, despite growing speculation of a general election this year, betting firms suggest it is more likely to take place in 2023 or later.
It is noted that bets regarding political developments are not valid predictions, as they do not reflect the opinions of experts who spend their lives analyzing the political affairs of the country, however they are a strong indicator.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
