Now that Sir Keir Starmer has resigned as Prime Minister the race is on to find his successor.
Former Mayor of Manchester Andy Burnham is favourite to be the next inhabitant of 10 Downing Street, particularly since his closest rivals, Wes Streeting, Darren Jones and Angela Rayner, have indicated they will not stand in a leadership election.
That leaves Alistair Carns as the only credible candidate who has not yet ruled himself out.
It means that Burnham is expected to be the only candidate for the job and could take over as PM as early as the middle of July.
Whoever gets the job, there will be a pretty major cabinet reshuffle and it seems certain that Rachel Reeves, who has served as Chancellor of the Exchequer since Labour’s landslide election victory in 2024, will be handing over the keys to 11 Downing Street.
Here are the 12 leading candidates to succeed her currently - according to the bookies.
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1. Ed Miliband - 4/7
Secretary of State for Energy Security and Net Zero Ed Miliband unexpectedly lost the 2015 General Election to David Cameron by 10 seats, effectively beginning the process of Brexit. It would continue one of the more remarkable political comebacks if he was able to take on the second top job under a new administration. He's now 4/7 favourite to do so, a week after Wes Streeting was initially installed as hot favourite. | POOL/AFP via Getty Images
2. Pat McFadden - 3/1
Pat McFadden is currently Secretary of State for Work and Pensions, having previously served as Chancellor of the Duchy of Lancaster. Now the 3/1 second favourite to step up to the job of Chancellor of the Exchequer after his odds were slashed from 10/1. | Getty Images
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3. Shabana Mahmood - 4/1
Current Home Secretary Shabana Mahmood has impressed since taking on her role last September. Her odds on becoming the next Chancellor have halved from 8/1 to 4/1 in the past week, although there have been indications she'd be happy staying in her current cabinet job. | Getty Images
4. Wes Streeting - 5/1
Former Health Secretary Wes Streeting was originally a hot favourite to be the new Chancellor of the Exchequer, priced at just 1/2 when he indicated he would not stand against Andy Burnham in an leadership election. He's now drifted out to 5/1 fourth favourite. | Getty Images