Liz Truss Exit Date Odds: Prime minister now 1/3 to leave in 2022

Liz Truss has only been Prime Minister for 41 days but she has already gone through one of the most turbulent tenures of the last few decades. On announcing her mini budget, Truss sent the pound tumbling, forcing the Bank of England to help stabilise markets. 

The Prime Minister then decided to sack Chancellor Kwasi Kwarteng with Jeremy Hunt appointed as the man to save both the economy and Truss’s premiership. On Monday 17 October, the newly appointed Chancellor made an emergency statement where he announced the reversal of most of the measures Truss had laid out.

Off the back of this, politicians and betting markets have reacted, with Truss now being offered at just 1/3 with one bookmaker to leave her position as Prime Minister in 2022. Those odds imply a 75% chance that Truss will be out before the end of the year, and even if she survives until January, her odds to leave in 2023 are now just 2/1.

Kwasi Kwarteng may have lasted just a matter of days in his role but could Truss be following him out of the door sooner than we think? Downing Street will be hoping that Jeremy Hunt’s speech on Monday will help quickly stabilise the current economic situation, although the Chancellor may have one eye on the top job himself with his odds cut to 7/2 to be the next prime minister.

William Hill are now 25/1 for Truss to leave office in 2024, while for those who think she can navigate her way through the next general election, 50/1 is on offer.