Liz Truss vs Rishi Sunak: Latest betting odds for the next PM

Conservative leadership race FILE This file combo shows the remaining candidates in the Conservative Party leadership race, former Chancellor of the Exchequer Rishi Sunak, right and Foreign Secretary Liz Truss. Two people are running to be Britain’s next prime minister, but a third presence looms over the contest: Margaret Thatcher. Almost a decade after her death, the late former prime minister casts a powerful spell over Britain's Conservative Party. In the race to replace Boris Johnson as Conservative leader and prime minister, both Foreign Secretary Liz Truss and former Treasury chief Rishi Sunak claim to embody the values of Thatcher. (AP Photo, File)
The final two candidates in the Conservative leadership race sees foreign secretary Liz Truss square off with former chancellor Rishi Sunak. Photo: AP
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With the Conservative leadership race nearing a conclusion, foreign secretary Liz Truss has extended her bookmaker odds as the favourite to win, with former chancellor Rishi Sunak trailing among Tory voters.

The foreign secretary is the clear front-runner with odds of around 1/6 from both Paddy Power and Ladbrokes respectively compared to Sunak who stands at 4/1.

William Hill also have Truss in the lead with odds of 2/9 compared to Sunak at 7/2.

Read more: Liz Truss is now overwhelming favourite to become the next prime minister

In terms of high-profile support from colleagues this has been a tough few days for Sunak, with both Tom Tugendhat and Penny Mordaunt declaring their support for Truss.

EXETER, ENGLAND - AUGUST 01: Minister of State for Trade Policy Penny Mordaunt speaks during the second Conservative party membership hustings on August 01, 2022 in Exeter, England. Conservative Party Leadership hopefuls Liz Truss and Rishi Sunak will attend the second party membership hustings in Exeter this evening. (Photo by Finnbarr Webster/Getty Images)
Following her elimination from the Conservative leadership race, Penny Mordaunt showed her support for Liz Truss at a hustings in Exeter. Photo: Getty

Read more: Rishi Sunak vows to cut income tax to 16%

Mordaunt joins defence secretary Ben Wallace and current chancellor Nadhim Zahawi as the latest cabinet minister to back Truss.

Mordaunt described Truss as the “hope candidate” in a leadership hustings in Exeter Monday evening.

She said: “Her graft, her authenticity, her determination, her ambition for this country, her consistency and sense of duty – she knows what she believes in, and her resolve to stand up against tyranny and fight for freedom.

“That’s what our country stands for and that’s why I know with her we can win."

Whilst Tugendhat in a column for The Times, said: “Liz’s plan for the economy is founded on true Conservative principles of low tax, a lean state and bold supply-side reform. It is not right that we have the highest tax burden in 70 years at a time of sluggish growth and rising energy prices.”

Some 160,000 Conservative members will decide who will be the next prime minister, with the winner being announced on 5 September by Graham Brady, chairman of the 1922 Committee.

Watch: Blow for Rishi Sunak as Penny Mordaunt backs Liz Truss to become next prime minister