After cutting short a US trip to address mounting pressure on his economic policies, the odds on Kwasi Kwarteng being replaced as Chancellor this year have been slashed to 1/2 from 6/4 when he made his first mini-budget U-turn.
Rachel Reeves is the 4/1 favourite to replace Kwarteng as Chancellor, with Mel Stride is next at 5/1.
The pressure is mounting on Liz Truss too and she’s 14/5 to go this year and 4/5 to step down as party leader in 2023, with Rishi Sunak the 13/5 favourite to replace her.
Betfair Exchange: Kwasi Kwarteng replacement date
2025 or later: 12/1
Betfair Exchange: Next Chancellor
Rachel Reeves 4/1
Mel Stride 5/1
Simon Clarke 10/1
Andrea Leadsom, Therese Coffey 11/1
Steve Barclay 12/1
Kemi Badenoch 14/1
Chris Philp, James Cleverly, John Redwood, Jacob Rees-Mogg 16/1
Rishi Sunak, Sajid Javid, Penny Mordaunt 20/1
Michael Gove 25/1
Boris Johnson 100/1
Betfair Exchange: Next Conservative leader
Rishi Sunak 13/5
Penny Mordaunt 11/2
Ben Wallace 8/1
Kemi Badenoch 17/2
Boris Johnson 12/1
Betfair spokesperson Sam Rosbottom said, “Kwasi Kwarteng has been forced to cut short his trip in the US to return to address mounting questions on his mini budget and punters have seen it as a sign of a man under pressure and he’s been backed into 1/2 to be replaced this year, even shorter odds than when he was cut to 6/4 following his first mini-budget U-turn.”