Odds slashed on Boris Johnson surviving the year after by- election defeats - Jeremy Hunt remains favourite

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The odds have been slashed on the PM’s departure (Dan Kitwood/PA) (PA Wire)
The odds have been slashed on the PM’s departure (Dan Kitwood/PA) (PA Wire)

The odds have been slashed on Boris Johnson surviving the remainder of the year following two by-election defeats.

According to figures from Betfair Exchange, the Prime Minister is now 15/8 to step down or be removed this year.

Prior to Thursday’s by-elections in Wakefield and Tiverton and Honiton, the Prime Minister was rated at 5/2 to leave this year.

With the party having lost both seats, the Tories are now placed at 3/1 to win an overall majority at the next general election - Labour is ranked at 4/1.

Former Health Secretary Jeremy Hunt remains the favourite to be the next Tory leader at 11/2 followed by Penny Mordaunt at 6/1 and Liz Truss at 8/1.

Other potential leaders are Foreign Affairs Select Committee chair Tom Tugendhat at 17/2, Chancellor Rishi Sunak at 10/1, Defence Wallace Ben Wallace at 11/1 and Education Secretary Nadhim Zahawi at 13/1.

Since its creation in 1997, Tiverton and Honiton had always been a Tory seat.

After the resignation of Neil Parish, the Lib Dems managed to overturn a majority of more than 24,000 on Thursday.

In Wakefield, Labour managed to recapture one of the ‘Red Wall’ seats with a new majority of 4,925.

Following the election, Tory Party chairman Oliver Dowden resigned from his role claiming “we cannot carry on with business as usual”.

Former leader of the party Lord Michael Howard warned the Prime Minister must now resign following the election defeats.

Speaking at the Commonwealth summit in Rwanda, Mr Johnson responded to the double by-election defeats by saying he would “listen” to voters but would “keep going”.

He admitted: “It’s absolutely true we’ve had some tough by-election results. They’ve been, I think, a reflection of a lot of things, but we’ve got to recognise voters are going through a tough time at the moment.”

He added: “We’re now facing pressures on the cost of living, we’re seeing spikes in fuel prices, energy costs, food costs — that’s hitting people. We’ve got to recognise there is more we’ve got to do and we certainly will.”

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