It's neck and neck at the top of the next Conservative Leader odds market, as Rishi Sunak, Penny Mordaunt and Liz Truss lead the way to replace Boris Johnson.
Candidates hoping to replace the outgoing Prime Minister (PM) are now well into their final day to find at least 20 MPs to support their bid. It has been confirmed that the deadline for nominations is 18:00 BST today, not the 22:00 originally reported.
There is a clear top three in the market, with both Sunak and Mordaunt at best price 9/4, with Liz Truss only marginally behind (9/2 best but 10/3 in places).
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The presence of Mordaunt at the top of the market suggests a desire for a clean break from Johnson's fallen senior team, with another from outside the cabinet in Kemi Badenoch (14/1) finding herself in the top four.
Mordaunt has said she will target the 'four i's' of investment, infrastructure, incentives and innovation to grow the economy, while Badenoch has made a case for easing the route into jobs like nursing, social and policing without a degree.
From 7/2 yesterday Penny Mordaunt is now a best price of 9/4 to be the next Conservative Party leader.
— oddschecker (@oddschecker) July 12, 2022
‣ Sunak - 21/10
‣ Mordaunt - 9/4
‣ Truss - 9/2
‣ Tugendhat - 12/1
‣ Badenoch - 12/1
‣ Hunt - 35/1
‣ Zahawi - 50/1
‣ Patel - 70/1
‣ Braverman - 80/1 pic.twitter.com/Lk2y5k5ZvN
And just to add to the drama, Labour will table a no confidence motion in the government later today, as Sir Keir Starmer tries to prevent Johnson "clinging on for a few months". The PM confirmed last Thursday that he was resigning but intended to stay on in the job until the autumn.
As we understand it, 11 MPs have so far put themselves forward to replace Johnson, with Sunak, Mordaunt and backbencher Tom Tugendhat (14/1) the only three known to have already passed the necessary support threshold ahead of tonight's deadline.
A winner will be picked in a postal ballot of around 160,000 Conservative Party members over the summer. Party bosses have said they plan to announce the result on Monday 5th September.
Next Conservative Leader Odds:
| Name | Best Price | Worst Price |
|---|---|---|
| Rishi Sunak | 9/4 | 7/4 |
| Penny Mordaunt | 9/4 | 7/4 |
| Liz Truss | 9/2 | 10/3 |
| Kemi Badenoch | 14/1 | 10/1 |
| Tom Tugendhat | 14/1 | 7/1 |
| Jeremy Hunt | 40/1 | 14/1 |
| Suella Braverman | 50/1 | 50/1 |
| Nadhim Zahawi | 50/1 | 25/1 |
