Who will be the next Prime Minister after Boris Johnson? Latest odds for Rishi Sunak and Liz Truss
PRIME MINSTER hopefuls Rishi Sunak and Liz Truss have reached the end of the Tory leadership contest.
With the announcement for the next PM due today (Monday, September 5), here are the latest odds.
Who will be the next Prime Minister after Boris Johnson?
The race to replace Boris Johnson formally began with eight candidates but has now been whittled down to just two: Rishi Sunak and Liz Truss.
Voting in the Tory leadership race officially closed at 5pm on September 2, 2022.
Mr Sunak has positioned himself as the economically cautious choice. He's promised not to slash too many taxes until the end of the decade, when he will cut income tax by 20 per cent.
Ms Truss on the other hand has promised a smorgasbord of fiscal giveaways.
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She's pledged to reverse the National Insurance hike from day one in office and even introduce a fully costed budget.
Other areas including defence spending, Brexit and foreign policy have also become key wedge issues in the contest.
Mr Johnson used his final PMQs to offer words of wisdom to his future successor.
He said: "Stay close to the Americans, stick up for the Ukrainians, stick up for freedom and democracy everywhere."
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The PM added: "Cut taxes and deregulate wherever you can to make this the greatest place to live and invest, which it is."
Bookies have been taking bets on whether Mr Sunak and Ms Truss will triumph, with over 180,000 or so Tory members voting to decide their new party leader and the next PM.
Ms Truss is the hot favourite to win, with pollsters consistently placing her more than 10 points ahead of rival Mr Sunak.
The final result will be announced at 12.30pm on Monday, September 5, 2022.
So what are the betting odds now?
Rishi Sunak - Odds: 12/1
BREXIT: Once a leader-in-waiting, the former Chancellor, 42, suffered a hit when his wife was revealed to hold non-dom status.
Party grassroots unhappy at the cost-of-living crisis but has public goodwill for Covid cash.
Bookies.com has Mr Sunak's chance of entering the UK's highest office at eight per cent.
Mr Sunak is trailing far behind Truss, having gone from likely winner to outside candidate on odds of 12/1.
Liz Truss - Odds: 1/33
REMAIN: Fiercely ambitious, social media-friendly Foreign Secretary, 46, would appeal to the party rank and file as a tax-cutting heir to Thatcher.
Now an advocate of Brexit despite voting Remain in the referendum.
Bookies.com has her chance of entering the UK's highest office at 92 per cent.
Ladbrokes gamblers believe that she will emerge with a strong win, almost achieving the same margin as Mr Johnson.
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Many believe she will receive between 65 and 70 per cent of the vote, with odds of 15/8 for this eventuality.
Ladbrokes odds also suggest that there is no chance that she can lose as the possibility of her attaining fewer than 40 per cent are at 100/1.