After weeks of campaigning and some unexpected twists, the Tories are set to announce the winner of their leadership contest
With the announcement imminent, cable is slowly rebounding.
The victor will be sworn in as the new PM on Wednesday.
Boris Johnson has a wide lead in the polls over Secretary of State for Foreign and Commonwealth Affairs Jeremy Hunt. But a number of senior figures in Theresa May’s government have resigned their posts, and on Monday, Sir Alan Duncan quit his Foreign Office role and called for MPs to have a vote before this on whether they actually will support Johnson forming a government. However, his call for a vote was blocked by the Commons speaker.
According to online bookmakers, Boris Johnson is 66/1 on to win the (and 33/1 on to be the next PM), while Jeremy Hunt is 25/1 against. Odds also favor the UK staying in the EU past the Oct. 31 deadline, and that the UK will leave with a deal.
Watch live coverage of the leadership contest.
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