Theresa May’s tenure as Prime Minister could very well come to an end at the start of June, when the next Brexit vote is due to take place in parliament.
Following a meeting with the Conservative Party’s hierarchy, Mrs May has agreed to set out a timetable for when an election for her successor will take place and that could be within weeks.
Mrs May’s Brexit plan has been rejected three times by MPs, and it seems highly unlikely she will prevail at the fourth attempt – at which point it is reported she could resign, at which point a new leadership battle will commence.
And even if she wins, she would still have to agree a departure date. The prime minister survived a confidence vote within her own party at the end of last year and party rules mean she cannot formally be challenged again until December, but her hand has now been forced as she has been left haunted by her Brexit failures.
Now the battle to succeed her as Tory leader and PM is already underway, and Boris Johnson has already confirmed he will challenge for the job and he is firm favourite with the Bookmakers at 11/4 whilst former Brexit secretary Dominic Raab has seen his odds tumble into 6/1.
Michael Gove, who was favourite just weeks ago, is now 7/1 whilst Labour leader Jeremy Corbyn is out to 8/1 with new Brexit Party chief Nigel Farage coming in at 16/1.
OddsMonkey spokesman Peter Watton commented: “The race to be the new PM is well and truly underway and we have seen big money already on Boris Johnson, who is as low as he has ever been at 11/4 but Dominic Raab odds have been slashed and he is into second favourite at 6/1 having been twice that earlier this month.
“Jeremy Corbyn will be hoping for and needs a general election if he is to land the top job, and the Bookmakers think there is a slight chance with a price of 8/1, and few people are doing better in the polls that Nigel Farage and he is just 17/1 to make it into Downing Street.”
Selected odds on next Prime Minister:
Boris Johnson 11/4
Dominic Raab 6/1
Michael Gove 7/1
Jeremy Corbyn 8/1
Jeremy Hunt 10/1
Sajid Javid 14/1
Matthew Hancock 16/1
Nigel Farage 16/1
Rory Stewart 20/1
Andrea Leadsom 25/1
Penny Mordaunt 25/1
Amber Rudd 25/1
David Lidington 33/1
James Cleverly 40/1
*Odds correct at time of publishing
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