Jeremy Corbyn or Jacob Rees-Mogg: who is favourite to become PM?

The leader of the Labour party is on the offensive and the eccentric Tory back-bencher is now a household name. Will either of them be Britain’s next prime minister?

According to Oddschecker, Corbyn and Rees-Mogg are the betting markets’ two favourites to become the UK’s next prime minister.

The third, fourth and fifth favourites are respectively Boris Johnson, David Davis and Amber Rudd, followed by Ruth Davidson and Gavin Williamson.

But who is the favourite?

Jeremy Corbyn is currently the favourite to succeed Theresa May, which is unsurprising as his party is making progress and the 2017 election put Labour on their highest share of the vote since 2001. Labour are the closest to power they have been since 2010.

The question for Corbyn is this: when could he become prime minister? It might just be possible that the next election does take place in 2022 as scheduled, but it is more likely that another snap election happens as a result of possible by-elections and defections in the coming years.

Corbyn’s best shot at becoming PM would probably be in an election once the UK is outside the EU – perhaps in autumn 2019.

As for Rees-Mogg, it’s very difficult to imagine this controversial Tory getting a place in the final round of a Conservative leadership ballot yet he is the favourite Tory to succeed Theresa May.

Overall, for Labour, Jeremy Corbyn is the party’s best route to power. For Conservatives thinking about replacing Theresa May, Jacob Rees-Mogg is the favourite, but he is unlikely to chime with the majority of typical voters.

If it's a choice of one or the other, Jeremy Corbyn will probably emerge as the country's next prime minister.

The full list of odds on Oddschecker can be viewed here. Odds are accurate as of 23rd November.