Rishi Sunak odds slashed to be the next Conservative leader

A rise in Sunak's public profile leads to betting market interest

Rishi Sunak /Party politician ©imago images / Paul Marriott 19.03.2020

Chancellor of the Exchequer Rishi Sunak is having a busy time of things at the moment. He has been front and centre this week in laying out financial measures in order to help tackle the coronavirus outbreak.

Next Conservative Leader Market

Rishi Sunak 4/1
Micahel Gove 12/1
Sajid Javid 12/1
Dominic Raab 16/1
Jeremy Hunt 16/1
Priti Patel 20/1
Penny Mordaunt 20/1
Jacob Rees-Mogg 25/1
Tom Tugendhat 25/1
Johnny Mercer 20/1
James Cleverly 20/1
Matthew Hancock 25/1
33/1 bar
* (betting odds taken from William at 23:45 GMT on Wednesday 18th March 2020)

From sport to bookmakers to small business, airlines and retail and just about everything in between the financial burden of the coronavirus is falling heavily on day-to-day life.

With business closing and the UK edging ever closer to a total lockdown, businesses are struggling and concerned about their long term survival and of course.

Whatever it takes

Sunak repeatedly stated in a press conference that the Government was ready to do “whatever it takes” financially to address the major concerns over the fallout of the spreading virus.

That means people are hurting financially amid layoffs and furloughs. Livelihoods and survival are at stake, along with health.

On Tuesday Rishi Sunak revealed a massive £350bn stimulus package for UK business, with £330bn of that being in loans.

Sunak strong in a tough start to a new job

It was only last week that Sunak delivered his first Budget after he replaced Sajid Javid last month in a Cabinet reshuffle. So this has been a “trial by fire” for him because the new announcement of help has largely messed up all the numbers that he had put forth in that Budget.

But in times of crisis such as this, people look for leadership and because Sunak is the face now of Britain’s financial situation, and has the power to wield the unleashing of aid in whatever form he can, that will naturally make him an appealing option for punters for political betting markets.

Next PM Odds

Keir Starmer 4/1
Rishi Sunak 5/1
Michael Gove 21/1
Rebecca Long-Bailey 21/1
Said Javid 21/1
26/1 bar
* (betting odds taken from Bet365 at 23:18 GMT on Wednesday, March 18th 2020)

Next leader Potential?

Sunak is in a position where if he successfully gets the country through such a dire economic situation, then the natural questions about his future leadership of the Conservative party is going to be raised further and further.

Early on Monday Mr Sunak was at 8/1 in the Next Conservative Leader betting market. But following his Tuesday announcement of economic help, he was cut into a price as short of 4/1 with William Hill, making him the new market leader.