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Labor would applaud a Liz Truss victory because it doesn’t believe she can win the general election, a political analyst said.

Matthew Engel, political betting expert and commentator for the Racing Post said: “The overnight trading show continues to show Liz Truss the popular gambling favorite to defeat Rishi Sunak as leader of the Conservative Party after the MPs’ last vote, against a best price of 4/6 on major bookmakers – odds that many experienced gamblers would consider priceless. Sunak could be supported at 6/4 against on the bets.

“This appears to be based on very meager early polls from members of the Conservative Party.

“It ignores Sunak’s superior charisma, charm and campaigning skills that are likely to come into play in the coming weeks.

“MPs in the Penny Mordaunt camp are also bitter against Truss, who was just eight votes away from their candidate,” Engel said.

“One person is really going to encourage Truss: Keir Starmer, and some party members may want to think about that. Labor thinks Truss will find it very difficult to win a general election.”

Truss became betting favorite on Tuesday, the fourth person to hold that position in two weeks, after Ben Wallace, who refused to stand, Sunak and Mordaunt.

Tory leadership race opportunities:

Liz Truss 4/6

Rishi Sunak 6/4

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