Pat McFadden the firm favourite to replace Rachel Reeves should she fail to keep hold of her job as Chancellor of the Exchequer following the instability in the market and the pound falling in value.
McFadden is the clear frontrunner for the role at 2/1, with only Darren Jones looking any danger to him in the market at 4/1.
The top three in the betting is rounded off which Secretary of State for Business and Trade Jonathan Reynolds (6/1).
William Kedjanyi, Political Betting Analyst at Star Sports, said: “Rachel Reeves has found herself in some hot water of late due to market turbulence and the pound falling to a near 15-month low, and speculation on whether her job as Chancellor of the Exchequer is safe has begun, with Minister for Intergovernmental Relations Pat McFadden rumoured to be in line to replace Reeves.
“McFadden is the strong market leader at 2/1 to take on Reeves’ responsibilities as Chancellor should she be removed from her position, with Chief Secretary to the Treasury Darren Jones second in the running at 4/1.
“Jonathan Reynolds, the current Secretary of State for Business and Trade, rounds off the top three in the betting at 6/1.”
Next UK chancellor odds
Next Permanent Chancellor of the Exchequer after Rachel Reeves:
| Pat McFadden | 2/1 |
| Darren Jones | 4/1 |
| Jonathan Reynolds | 6/1 |
| Wes Streeting | 7/1 |
| Ellie Reeves | 9/1 |
| Liz Kendall | 12/1 |
| Yvette Cooper | 14/1 |
| Shabana Mahmood | 16/1 |
| BAR | 16/1 |
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