Liz Truss was installed as Prime Minister earlier this month and that should have settled down the Next Prime Minister market for at least a year but a disastrous start to her term has seen plenty of interest so we round up the latest market movers…

It is no surprise that Sir Keir Starmer is the favourite but with several polls now seeing Labour in potential landslide territory, the Labour Leader has now moved to odds-on and is 10/11 with Betfred at the time of writing. Three separate polls released on Thursday saw giant steps forward by the party coupled with big steps back for the Tories. One of the polls saw that more than half of the electorate (53%) were ready to vote for the Red Rose party and under our current First Past the Post system, that would result in a thumping victory.

Punters will be hesitant to believe that it can be so easy considering they have seen over the past few years that polls have not been closely aligned with how people actually voted. Considering the current economic situation however, anyone other than Sir Keir Starmer walking into 10 Downing Street after the next General Election would be a massive surprise.

Next Prime Minister Betting Odds

The biggest question is whether Liz Truss can actually make it to a General Election. Incumbents should not be worried about their job prospects within a month of taking office but we are not in normal times. We haven’t been for an awfully long time but since the mini-budget from her Chancellor, normal times can’t even be seen on the horizon. It has been a week of crisis for the new government with back-benchers openly calling for a change of course and letters already being submitted to the 1922 committee, despite the current rules giving any new PM a 12-month period of grace.

That news has seen a significant market move with Rishi Sunak now the 13/2 second-favourite to be the next Premier Minister. He was 25/1 earlier this week. The MP for Richmond was backed by his colleagues to replace Boris Johnson but the party membership wanted something more extreme and voted overwhelmingly for Liz Truss. Should by some means the 1922 committee did change its rules to allow a Vote of No Confidence in the new leader, she may well lose, which is mind-blowing to write.

Should that happen then it would surely be a battle between Sunak – who would surely once again garner the majority of the support from Conservative MPs and then the return of Boris Johnson. Could the former PM be waiting in the wings? The party membership would likely want him back and like a Phoenix, he could rise from the flames and return to the top job just months after his own party declared that they had No Confidence in him. Johnson is 8/1 and is the third-favourite and nothing would surprise me at this point. Nothing.

Bet on the Next Prime Minister Market with Betfred here