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

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.

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