Boris Johnson has handed in his resignation as he faced more problems in parliament. The Chancellor and Health Secretary, Rishi Sunak and Sajid Javid, led a wave of resignations as they've stated "they can no longer support Boris Johnson after he claimed to not know about 2019 allegations against MP Chris Pincher."
After dodging a no confidence vote and previous attempts by ministers to resign, the Prime Minister finally fell to the sword opening up a leadership contest in the Conservative party.
With over eleven candidates announced to be named the next Tory leader, it's been whittled down to the remaining two contenders: Rishi Sunak and Liz Truss.
The pair will be battling it out over August to gain the support of Conservative party members. The winner will be announced on September 5th.
We've delved into bookmaker's betting odds to pick out the best returns on the next Conservative leader market between the pair.
Next Conservative Leader Odds
The current score and odds for the bookies favourite Conservative leader odds are:
- Rishi Sunak - 2/1
- Liz Truss - 4/9
Who is the Favourite to Replace Boris Johnson?
Former Chancellor of the Exchequer, Rishi Sunak, is the current frontrunner in the next Conservative party leader race at odds of 2/1.
Mr Sunak has the highest profile of all the current Tory MPs looking to become the next leader of the party. However, many believe that his relationship with the previous premiership of Boris Johnson could hamper his chances.
Many in the Conservative party believe that there needs to be a change within the party away from the Johnson years.
Who Are the Frontrunners to be the Next Tory Leader?
Each day passing, it appears that more and more MPs are throwing their hat in the ring to be the next leader of the Conservatives. So much so that the 1922 Committee are looking to increase the number of sponsors needed to be nominated to leader to 28 names. Let's break down the front runners
Rishi Sunak is the MP for Richmond, North Yorkshire and is most famous for his role as Chancellor during the Coronavirus Pandemic.
Many have had Sunak down as a future PM for a many years now, but will his role in the Boris Johnson government help or hinder his chances to be the next Tory Leader?
Sunak's campaign sees the 42-year-old positioning himself as the sensible pragmatist during challenging times.
Former Foreign Secretary Liz Truss has been a favourite with Tory Party members for a number of years and announced she would be running in the leadership contest on Sunday evening.
Maybe have compared Liz Truss to former Prime Minister, Margret Thatcher, though it is yet to be seen as to whether she is anything like the divisive Tory leader.
The Foreign Secretary will be hoping her role during the Ukraine-Russia conflict will help boost her credentials with those voting.
Previous Leaders of the Conservative Party
- Ian Duncan Smith - 2001
- Michael Howard - 2003
- David Cameron - 2005
- Theresa May - 2016
- Boris Johnson - 2019
How Long Have the Conservative Party been in Power for?
Mr Johnson has been serving as Prime Minister and leader of the conservative party since 2019 when he won a landslide election and a majority of 80 seats.
The Conservatives came into power via a coalition agreement with the Liberal Democrats in 2010.
The coalition government ended 13 years of Labour government under Tony Blair and Gordon Brown starting in 1997.
The Conservatives then formed a government with a small 12-seat majority following the 2015 general election. Following the Brexit vote in 2016, David Cameron stepped down as Prime Minister and Theresa May took over.
She then formed a minority government in 2017 following Theresa May's poor electoral campaign after coming to post.
How Many Seats to the Conservative Party Have in the House of Commons?
The Conservative party currently have 365 elected and 358 current in the UK House of Commons composition.
When is the Next General Election?
General Elections should be every 5 years. The next General Election is scheduled to be held in January 2025, unless one is called earlier.
Now that Boris Johnson has resigned, the Conservative Party will choose a new Conservative Party leader. That new leader will then become the next Prime Minister.
That new Prime Minister is not obliged to call an early election, but can do so if they wanted.
However, previous Prime Ministers appointed have called early General Elections due mounting pressure from opposition parties and the media.
Despite this any new leader might be weary of calling a General Election any time soon if recent by-election results are to go by for the leading party.
Who Would Win the Most Seats in the Next General Election?
The bookmakers are currently in favour of the Conservatives winning the most seats in the next general election despite the turmoil and in fighting amongst their camps.
The bookies currently make the Tory party 4/5 to win the most seats in the general election but Labour are not took far behind in the betting.
Labour are priced at evens to win the most seats in the next election, but will need some big swings in the North of England to regain old ground and hope they can make up new ground in traditional Conservative heartlands.