Next Conservative leader: Bookies odds on who will take charge of Tories after popular candidates lose seats

Following this week’s General Election, where the Conservatives were comprehensively ousted from power, Sunak revealed in a speech outside 10 Downing Street that he would be also stepping down as Tory leader.

In the aftermath of his announcement, the jostling has started for the battle to lead the Conservatives in opposition, although expected contender Suella Braverman on Saturday said there were “no announcements”. After leading the Conservatives to their worst general election result, Sunak said he would quit as party leader once arrangements were in place to choose his successor.

Former chancellor Mr Hunt told GB News that the “time has passed” for him to launch a bid. He is a two-time former leadership hopeful, having unsuccessfully stood against Boris Johnson in 2019 when Theresa May resigned, and again in 2022 after Johnson’s downfall.

Hunt, who narrowly held off a Liberal Democrat challenge in Godalming and Ash, said in his victory speech that the Conservatives’ “crushing” defeat was a “bitter pill to swallow” for the party. His refusal to run may come as a disappointment to Tory centrists who want to prevent the party lurching to the right.

Braverman is expected to throw her hat into the ring in what could be an acrimonious contest which could shape the party for years to come as right-wingers and more moderate Tories battle it out.

Speaking to broadcasters outside her home, she said: “No announcements. We’ve just got to take our time, we’ve got to figure out what the situation is. It’s been a really bad result. There’s no two ways about it.

“Hundreds of excellent Tory MPs have been kicked out of office.”

According to Oddschecker, Braverman is among the bookies’ favourites for the position, although she is likely to face fierce competition from some familiar faces. Many of those who threw their hats into the ring when Johnson resigned are likely to take another punt at leadership.

Kemi Badenoch, MP for North West Essex, is considered to be the marginal favourite with the bookmakers to replace Rishi Sunak at 11/5. She is closely followed by Priti Patel, who stands at 8/1, and Tom Tugendhat at the same odds.

Suella Braverman has odds of 12/1 - with Penny Mordaunt’s odds plummeting after she lost her seat, putting her now at 100/1.