Liz Truss’s Chances of Standing Down This Year Up Sharply, Odds Show

(Bloomberg) -- UK Prime Minister Liz Truss faces a growing likelihood of being forced from office before the end of this year as her administration is engulfed by a economic crisis, odds from Ladbrokes show.

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The bookmaker has slashed her odds of departing by the year-end to 7/1 from 11/1 on Wednesday and 40/1 on Saturday, according to a statement on Thursday.

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While those odds suggest there is still only approximately a 13% chance Truss will be replaced this year, the likelihood that she will exit Downing Street in 2023 is much higher, at about 60%, odds suggest.

Ex-Chancellor of the Exchequer Rishi Sunak is the front-runner to replace Truss, with Kemi Badenoch, international trade minister, and former Prime Minister Boris Johnson also potential contenders, the bookmaker said.

Betting odds aren’t a completely reliable guide to how inherently unpredictable political events will play out. They tend to reflect the views of a modest number of customers, with low levels of liquidity compared to other markets. Nonetheless, changes in odds can show how gamblers’ views are shifting.

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