UK bookmakers appear adamant that Jeremy Corbyn will keep his position as Labour Party leader despite the electoral challenge of Shadow Work & Pensions Secretary Owen Smith.
Smith will now challenge Corbyn at the upcoming Labour Party Elections on 24 September as sole leadership candidate, with Angela Eagles (Shadow Secretary of Business) having yesterday announced her departure from the race following the first round of MP Voting.
As a candidate Smith my carry favour with party moderates against Corbyn’s far-left support, however the majority of UK bookmakers’ have placed the Welshman at 2/1 to takeover the Labour leadership versus Corbyn’s 4/9 odds of retaining the position.
In its latest party member polls released yesterday, YouGov reported that at present Corbyn had more than 54% of Labour public support (more than Owen and Eagles combined).
As the sole challenger to Corbyn, YouGov predicts that smith will have to claw back a 20 point deficit if he is to win the Labour leadership race.
Despite Corbyn this month facing a mass shadow cabinet MP walkout following a vote of ‘no confidence’ in his leadership, the Labour leader appears to maintain his popularity with the party’s core base of supporters who will likely back him in September.