The pressure is mounting on embattled UK Prime Minister Theresa May, as Brexit negotiations head towards collapse, and rumours surface of a potential Conservative Party revolt against her leadership.
Last week, the European Union’s Chief Negotiator Michel Barnier gave the UK government a two-week deadline in which to ‘clarify its stance on financial obligations and EU citizens’ rights’. Barnier warned the UK, there would be no further negotiations unless the key issues were clarified.
At home, The Sunday Times reports that up to 40 Conservative MPs have agreed to sign a letter of no confidence in PM May. Furthermore, UK media leaked a threatening memo addressed to May by Brexiters Boris Johnson and Michael Gove urging the PM to ‘underline her resolve’ and achieve a total break with Brussels’.
A week of heightened Downing Street drama and turmoil have forced Paddy Power to revise its UK political markets, pricing May at just 5/2 to resign as Prime Minister this month.
As news continues to surface of further Tory Party splits with regards to the UK’s ‘exit strategy’, Paddy Power Politics has further cut the price on the next UK General Election taking place in 2018, to 9/4
Should a new snap election be called, Paddy Power places Labour leader Jeremy Corbyn as the favourite to succeed May (5/1), ahead of Conservative challengers Jacob Rees Mogg (6/1), David Davis (6/1) and Boris Johnson (7/1).
At present, the Irish bookmaker has priced odds of the UK getting a ‘no deal’ in Brexit negotiations at 2/1.
Updating the media, a spokesman for Paddy Power commented on markets: “It looks like we’re getting very close to May Day, as Theresa faces the mother of all struggles to retain authority both in Europe and within her Party.
“Given that she didn’t want Brexit in the first place, resigning or being forced out would be a novel new way for her to perform an EU-turn.”
Paddy Power UK Politics Update
When will Theresa May Cease to be PM?
Q1, 2018 10/3
Q2, 2018 7/1
Year of Next UK General Election
Next UK Prime Minister
5/1 Jeremy Corbyn
6/1 Jacob Rees Mogg
6/1 David Davis
7/1 Boris Johnson
10/1 Amber Rudd