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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5. Yvette Cooper - 8/1
Yvette Cooper attempted to become Labour leader back in 2015 following the resignation of Ed Miliband, coming third to eventual winner Jeremy Corbyn. She's unlikely to try again against a seemingly-unbeatable Andy Burnham, but is 8/1 to become Chancellor instead. Her husband Ed Balls was UK Shadow Chancellor of the Exchequer from 2011-2015. | Getty Images
6. Rebecca Long-Bailey - 14/1
Left-winger Rebecca Long-Bailey came second to Keir Starmer in the 2020 Labour Party leadership election, but in 2024 was suspended from the Labour Party for six months for voting for an SNP amendment to remove the two-child benefit cap. She's 14/1 to complete her political comeback by becoming Chancellor. | Getty Images
7. Louise Haigh - 16/1
Former Secretary of State for Transport Louise Haigh resigned from her cabinet position after it emerged she had pled guilty to 'fraud by false representation relating to misleading police' in 2014 (claiming a phone had been stolen during a mugging, when it later emerged that it had not). She's a 16/1 shot to return to cabinet in the second biggest job in government. | Getty Images
8. Miatta Fahnbulleh - 16/1
Seen as a star of the future, Miatta Fahnbulleh was first elected in the 2024 General Election and has previously served as Parliamentary Under-Secretary of State in the Ministry of Housing, Communities and Local Government. It may be a bit early for her, but she's still in the running for the Chancellor job, priced at 16/1. | Getty Images