Bookies make it just 9/4 that Kwasi Kwarteng will be REPLACED as Chancellor in 2022 after 'Kami-Kwasi' week!

Kwasi Kwarteng is now 9/4 to be replaced as chancellor with bookies

Kwasi Kwarteng has been backed in to 9/4 from 4/1 with bookies to be replaced as Chancellor after a disastrous week.

Kwarteng's mini-budget last week led to a slump in the value of the pound with a £65b intervention from the Bank of England.

Smarkets now give a 30% chance that Kwarteng is replaced as Chancellor before the end of the year with many asking him to quit.

According to the betting odds, Kwarteng's position still looks fairly safe until the end of the year at least.

With odds of 3/10, bookies give a massive 76% chance that Kwarteng stays in his position as Chancellor going into 2023.

Bookies also make Kwarteng the favourite to be the first cabinet member to leave

Bookies give a variety of different markets around Kwasi Kwarteng's position and that includes making him favourite to be the first cabinet member to leave.

At odds of 11/4, Kwarteng's odds of leaving first in this current cabinet have tumbled down from 12/1 in the space of a week.

A recent voter poll by YouGov has put Labour in a massive 33-point lead ahead of the Conservatives.

A UK recession still remains odds on at 4/9

The chances of a recession in the UK looks more and more likely according to odds from bookmakers.

It's now 4/9 that the UK goes into recession in 2022, shortening from 4/5 back in August.

Bookies make it 8/11 that it doesn't happen before the end of the year though with a 58% chance of that being the case.