Rishi Sunak holds firm as bookies` favourite to replace Liz Truss as UK PM

Rishi Sunak holds firm as bookies` favourite to replace Liz Truss as UK PM

A clear precursor to taking over from Liz Truss as Conservative Party leader and British prime minister on Friday remains uncertain due to deep divisions among the Tories, but bookies’ odds favored former British Indian chancellor Rishi Sunak. Has made a splash.

As the runner-up of the leadership election concluded last month, the former finance minister, who forecast an economic crisis triggered by a mini-budget truce, is seen as a safe pair to take office at 10 Downing Street.

The 42-year-old has a solid 55 percent lead with the oddschecker betting odds aggregator, followed by former Prime Minister Boris Johnson with a 29 percent chance of making a comeback. In what emerged as a three-way contest, the leader of the Commons, Penny Mordent, finished third in the first round of parliamentary votes to shortlist candidates for the final leadership race.

“I support Rishi Sunak to be my next PM. He has the plan and the credibility to: restore financial stability, help reduce inflation and make sustainable tax cuts over time; and hire the best talent in government.” Uniting the Conservatives to bring the British people together,” tweeted former cabinet minister Dominic Raab, the first of nearly 50 MPs to openly declare support for Sunak.

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Amid opposition calls for an immediate general election, there is a frenzy among the governing Tories to find a successor to Truss, who now holds the humiliating title of being the shortest-serving incumbent at 10 Downing Street after resigning on Thursday “Elected to the post just 44 days later.

Under the rules of this Tory leadership race, a candidate must have at least 100 members of parliament supporting him to be shortlisted by the local deadline Monday, 2 p.m. The party-impressed Johnson is likely to return as there are reports he has the support of around 140 lawmakers.

The former prime minister, who is vacationing in the Caribbean, is believed to be on his way back to speed up his leadership campaign.

“I’m supporting Boris #BorisorBust,” tweeted UK Business Secretary Jacob Rees-Mogg, one of the major cheerleaders at the Johnson camp.

However, many others have expressed their shock and dismay at the prospect, noting that Johnson still faces a parliamentary inquiry into whether he misled the House of Commons on the parties held under his watch in Downing Street. did.

Polls show that the former prime minister, who won a thumping majority in the 2019 general election, is popular with broad Tory membership. Johnson’s return would be a dramatic return, having been ousted only 45 days earlier by his cabinet and lawmakers.

Mordant and his supporters are also said to be gathering figures in his favor. Given the Tory tally of 357 MPs in the Commons, a maximum of three finalists are possible. MPs will then hold a “signal” ballot to choose the last two, after which the winner will be decided in an online vote by party members.

If the Tory’s 170,000 members get a vote on the top two contenders, a new leader will be announced by next Friday. However, if Tory lawmakers agree on a single candidate, the contest could end on Monday.

Meanwhile, Truss remains the acting prime minister until his successor is chosen and anointed by King Charles III. She resigned on Thursday after a brief yet stint with a policy U-turn amid a spiraling economic crisis triggered by a controversial unfunded tax-cutting mini-budget last month that sent financial markets into turmoil.

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