In a week, in which Britain has veered ever closer towards a ‘hard Brexit’, as the bill triggering Article 50 cleared the UK House of Commons, it appears that Jeremy Corbyn is at his lowest point as Labour Party Leader.
A disastrous week has seen Labour Shadow Business Secretary Clive Lewis, once a key backer of Corbyn resign from his cabinet position. To add to Corbyn’s leadership woes, he must now reshuffle his cabinet following the resignation of four senior party members over Labour’s Brexit stance. Furthermore, UK political commentators have questioned who within the Labour Party is willing to work and aid Corbyn towards Party leadership for the next UK General Election.
Corbyn’s perilous position, has left all UK bookmakers wondering whether the Labour leader is just a ‘Dead Man Walking’.
Updating its UK politics markets, William Hill has been forced to take evasive action by slashing their odds Corbyn to cease to be Labour leader during 2017, after a rush of bets for him saw the odds slashed from 2/1 (33% chance) to Even money (50%).
‘A sudden influx of bets for Corbyn to go this year has forced us to cut the odds – perhaps political punters believe two bad by-election outcomes in Copeland and Stoke-on-Trent Central could do for him’ said Hill’s spokesman Graham Sharpe.
Detailing the upcoming crucial 23 February Stoke and Copeland by-elections, William Hill further notes that it is offering odds of 6/4 that Labour lose both constituencies, in what would likely mark ‘a point of no return’ for Jeremy Corbyn’s leadership.