Ex-chancellor Rishi Sunak has been backed into 7/2 at Betfred to be the next Prime Minister.

Just four weeks ago, after he lost to Prime Minister Liz Truss in the vote to be the next Conservative Party leader and therefore PM, he was as big as 25/1.

But with the ruling Tories in turmoil after having to U-turn over the 45p tax rate row, Sunak is proving a popular choice amongst punters to have the last laugh and pick up the keys to 10 Downing Street.

Truss and her chancellor Kwasi Kwarteng abandoned the 45p tax rate which benefits the rich as the Conservative Party conference got underway in Birmingham.

The Tories believe the row over the tax rate could have overshadowed the conference and taken the spotlight away from other government initiatives.

Labour leader Sir Keir Starmer, who has benefited greatly from the Tory turmoil, is 6/4 favourite at Betfred to be the next PM.

How about ex-PM Boris Johnson making a dramatic return to the fray? That’s 10/1 – the same price as the big mover, Michael Gove, who is in from 40/1 after reports over the weekend that he’d been leading calls for Truss and Kwarteng to U-turn over the 45p tax rate.

For the next general election, Betfred make Labour odds-on favourites at 4/11 to win the most seats, ahead of the Conservatives at 19/10 – while the Liberal Democrats are available at 100/1.

Labour are 13/10 to win an overall majority, but Betfred make it more likely that there would be no overall majority (5/4).

Next Prime Minister Betting Odds