Liz Truss Exit Date Odds: PM slashed to 1/2 to leave in 2022

Emergency statement throws PM future into doubt

Following the Chancellor’s emergency statement this morning, which saw most of the mini-budget measures laid out by Liz Truss reversed, does she have a future as Prime Minister?

After the statement made by Jeremy Hunt, who will follow with a full plan in the Commons later today, Truss has continued to shorten into a best price 1/2 to leave her position in 2022.

The Prime Minister, who promised to cut taxes by more than her rival Rishi Sunak over the summer, is now keeping them higher than he planned.

Meanwhile, a Treasury-led review will take place into how households and businesses are helped with energy bills from April next year.

Downing Street are hoping that the announcement from Hunt - brought forward two weeks - shows that they are going to act quickly to stabilise the economic situation, but has the damage already been done for Truss?

Hunt, behind only Sunak to replace Liz Truss as Prime Minister at 7/2, talked about stability in his emergency statement, something which the mini budget threw into question just a few weeks ago.

The markets were a key indicator of how the original mini-budget was received, which led to the sacking of Kwasi Kwarteng. But will Truss follow him quickly out the door?

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When will the Exit Date come for Liz Truss?

So, when will the end come for Truss given that nearly every element of her prospectus has just been cut up by her new chancellor? Can she stand behind the revised economic plans?

Following 2022 as the favourite exit date, 2023 has drifted to a best price 12/5 (2/1 worst), while 2024 – 23/10 less than three weeks ago – is now priced at a huge 16/1.

And finally 33/1 is available for her exit date to be 2025, the theoretical year of the next General Election unless an earlier one is called.