Liz Truss odds to step down as PM this year continue to tumble as Labour majority becomes most likely election outcome at 5/4

The odds on Liz Truss stepping down as Prime Minister this year have been slashed once again to 7/1 from 15/2 yesterday.

The latest update in the market is a dramatic change from odds of 170/1 to go by the end of the year, back when she was first elected as Conservative Leader.

As Labour climb to a huge 33-point lead over the Tories in some polls, Keir Starmer’s party are 5/4 to win a majority in the next election – now the most-likely outcome having been 15/8 yesterday  – while a Conservative majority is 9/2 and no majority is 6/4.

Boris Johnson is the second favourite to replace Liz Truss at 7/1, with Rishi Sunak the 11/2 favourite to be the next Conservative leader.

Betfair Exchange: Liz Truss exit date

2022: 7/1

2023: 8/5

2024: 2/1

2025 or later: 7/2

Betfair Exchange: Next General Election Overall Majority

Labour Majority: 5/4

No Overall Majority: 6/4

Conservative Majority: 9/2

Betfair Exchange: Next Conservative leader

Rishi Sunak 11/2

Boris Johnson 7/1

Kemi Badenoch 7/1

Ben Wallace 10/1

Penny Mordaunt 12/1

Betfair spokesperson Sam Rosbottom said, “Punters are continuing to back Liz Truss to step down as PM and her odds of leaving this year have been cut again to 7/1 from 15/2 yesterday and a dramatic change from 170/1 to go in 2022 when first elected.

“A familiar face could be waiting in the wings at Downing Street with punters backing Boris Johnson as the 7/1 second-favourite to be the next leader.

“As scrutiny mounts on the Conservative’s policies and Keir Starmer’s party surge to a 33-point lead in some polls, Labour are now 5/4 to win a majority in the next election – the most likely outcome according to the odds.”