Rishi Sunak has stepped down as Prime Minister following the Conservative Party's heavy defeat in the 2024 General Election. Despite retaining his seat in Richmond and Northallerton with a majority of nearly 13,000 votes, Sunak apologised for his role in the party's poor performance and resigned as leader. Keir Starmer has become the new Prime Minister, with Labour securing a significant majority.

Attention now shifts to the Conservative leadership contest as the party, now the official opposition with around 120 seats, looks to rebuild. The new leader will be responsible for challenging Labour's policies, including during Prime Minister's Questions (PMQs). The recent leadership race in September 2022 saw Liz Truss briefly take over before Sunak succeeded her.

Several candidates are being considered for the Conservative leadership, though not all are eligible. Notable figures like David Cameron and Boris Johnson are ineligible as they are not sitting MPs. Due to the reasons behind The Conservative collapse, much of the focus has been on Nigel Farage. However, he would also not be eligible to become leader of the Tories unless he immediately defected from Reform UK to join the party.

Eligible contenders and their odds include:

• Kemi Badenoch: Favored by many bookies with odds like 9/4 from Paddy Power and 5/2 from Betfred.

• Tom Tugendhat: Consistent odds of 7/2 from multiple bookmakers.

• Priti Patel: 11/2 chance according to bet365.

• Jeremy Hunt: Odds ranging from 15/2 (Paddy Power) to 13/2 (Unibet).

• Robert Jenrick: 13/2 odds from various betting sites.

• Suella Braverman: 15/2 odds from Paddy Power and 13/2 from Unibet.

This election has exposed a significant gulf between the left-leaning and right-leaning factions within the Conservative Party, a debate that was pivotal throughout the election. The upcoming leadership decision is vital as it will determine the party's direction and strategy for challenging Labour. Choosing a leader who can bridge this divide and unify the party will be crucial for its future success and political relevance.