Boris the favourite to become UK Prime Minister after Brexit

BREXIT has claimed more than the United Kingdom’s departure from the European Union, with Prime Minister David Cameron falling on his sword.

The Tories now have to find themselves a new leader after Cameron – who had fought long and hard for the nation not to split from the EU – announced he would resign the post by October.

The double edged sword of cessation from the EU represents potential glory, but could more likely be a poison chalice for whoever takes over.

The frontier of negotiating a new settlement with the EU and the sovereignty that comes with the vote will be something that could make a legend out of the next Prime Minister.

But, given that Northern Ireland and Scotland voted to remain, while England and Wales voted to leave, the move has given rise to separatists who would see the UK broken up.

With the dust still yet to settle, Britain will need to find a new Prime Minister.

A cast of would be hopefuls are set to put their names forward.

But two stand alone as the favourites for the job.

Enigmatic former London Mayor Boris Johnson has emerged as the $2 favourite with WilliamHill.com.au to be the nation’s next Prime Minister – something he has coveted for most of his professional life.

He was perhaps the most vocal supporter of the leave vote and no doubt inspired thousands, if not millions to break away from the EU.

Johnson, 52, has a job on his hands just to get there, with home secretary Theresa May set to be a fierce rival as they try to impress the some 330 members of Parliament on the conservative side of politics. Most of those people wanted Britain to stay in the EU – he’s up against it.

Johnson is a cunning electioneering fox, having taken power in two separate Mayoral elections and could lay claim to playing a big part in the Kingdom’s decision to break away.

May, 59, has an air of Margaret Thatcher about her. Powerful, confident, take no bull. A woman who commands respect up against a man who perhaps plays the fool all too often.

WilliamHill has installed her as a $3 second favourite to Johnson.

MP for Surrey Heath Michael Gove represents some value at $21 with WilliamHill.com.au.

“Despite Boris Johnson being the clear front runner, these are clearly unchartered waters for the UK and there really aren’t any overly clear indicators of who will fill David Cameron’s vacated position” a William Hill spokesperson said.

“In the turbulent political landscape prevailing in the UK, the next leader will surely be scrutinized like never before.”

Who will be the next Tory leader:

Boris Johnson — $2

Theresa May — $3

Andrea Leadson – $10

Stephen Crabb – $11

Liam Fox – $13

Michael Gove – $21

George Osbourne – $23

Priti Patel – $26

Sajid Javid – $34

Nicky Morgan – $34

Ruth Davidson – $41

Dominic Raab – $41

Jeremy Hunt – $51

Labour continues to drift in Australian Federal Election betting

THE Australian Federal election is this Saturday and it’s not looking good for Bill Shorten’s crew.

The Labour Party has drifted again in the betting and is now a massive $7 with Sportsbet.com.au to take power on July 2.

The online bookmaker reports that nearly all of the money has been for the Coalition.

“Since Sunday, 99 per cent of the money on Sportsbet’s Sworn In Government market has been backing the Coalition, with its odds cut from $1.15 into $1.10, the shortest price since the campaign began,” the bookie’s Ben Bulmer said.

“Labor made up ground last week, but has today drifted from $5.50 out to $7, its longest odds since Sportsbet opened its next Sworn In Government market in September 2013.

“In Sportsbet’s Primary Vote markets, Labor is favourite to secure 34-35.99 per cent of the primary vote, which has been cut from $3 to $2.

“The Coalition is favourite to secure either 41-41.99 per cent or 42-42.99 per cent, with both results paying $3.75.

“The Greens’ chances of securing a primary vote of either 10-10.99 per cent or 11-11.99 per cent are now the $4 equal favourites, but have drifted.”

Labor has been smashed since shadow treasurer Chris Bowen announced Labor’s policy measures would leave the nation in over $100 billion deficit over the next four years.

Bowen did claim the budget would be returned to surplus by 2020-21, but punters have shown little care for that.

“Sportsbet punters have jumped off Labor after Chris Bowen revealed the budget would be $16.5 billion worse off if he was Treasurer, with $99 in every $100 being staked on the election since Sunday predicting a Coalition win,” Bulmer said.

Bowen said Labor’s costings focused on the future.

“What we’ve seen here in the impact of our decisions is the impact on the budget,” Bowen said. “But Labor is concerned for the long term as well.

“And so, when you look at the impact of our decisions, we see the budget balance improving, the government sees it getting worse.”

Treasurer Scott Morrison, of course, attacked the plans, rejecting Labor’s projections of increased surplus.

“Labor’s prescription in these very uncertain and highly volatile times is a high deficit, higher debt and higher taxes,” Morrison said.

“That is what they have confirmed in their own documents.

“And this is something that will weaken our economy, at a time when we need to be doing everything, particularly right now, to strengthen our economy.

“It will make us more vulnerable at a time of uncertainty and volatility, at a time we need to make it stronger.”

Australian Federal Election market:

Coalition ($1.10, in from $1.15)

Labor ($7, out from $5.50)