Jeremy Hunt, the man tasked with reshaping the PM's own economic plans, has been slashed into second favourite to replace Liz Truss.
Earlier today, Chancellor Jeremy Hunt set out a savings plan to stabilise the public finances in an emergency statement, but will Liz Truss survive the economic U-turns? And who might take over as Prime Minister should she leave after just six weeks in office?
Who are the favourites to replace Truss as Prime Minister?
This morning, Chancellor Jeremy Hunt ditched almost all of the tax cuts announced in the government's 'mini budget' three weeks ago.
The basic rate of income tax will remain at 20% indefinitely instead of being reduced to 19%, while the energy bill support scheme will now only run until April 2023 in its current form.
Downing Street hope the announcement from Hunt shows they are going to act quickly to stabilise the economic situation, but has the damage already been done for Truss given that a large number of her own MPs reportedly think she’s responsible for the current turmoil?
Hunt, himself, has come into a best price 7/2 in the next Prime Minister odds after Liz Truss market. He was as long as 40/1 last Thursday before a general 6/1 by Friday.
Betfred
- Huge range of regular promotions
- 24/7 live chat service
- PickYourPunt builder for custom bets
Sunak, meanwhile, was 7/2 with most bookmakers on Thursday (best 11/2) but as short as 6/4 by Friday. 13/8 is available for the 42-year-old at the time of writing.
With uncertainty over Truss’ immediate future, Labour leader Keir Starmer has drifted from 6/4 to a best price 39/5 in the ‘next Prime Minster after Liz Truss market’ (5/1 worst price) but he is a short 2/9 to be the PM after the next General Election.
Next Prime Minister Odds:
| Name | Best Price | Worst Price |
|---|---|---|
| Rishi Sunak | 13/8 | 6/4 |
| Jeremy Hunt | 7/2 | 3/1 |
| Keir Starmer | 39/5 | 5/1 |
| Ben Wallace | 6/1 | 11/2 |
| Penny Mordaunt | 15/2 | 6/1 |
| Boris Johnson | 20/1 | 12/1 |
*Odds accurate as of 15:00 on 17/10/2022
