The odds have been slashed on the PM’s departure (Dan Kitwood/PA)
(Picture: 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.
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.”
