Liz Truss has '90% chance' to be UK PM; Sunak says will fight on

British Conservatives Rishi Sunak and Liz Truss on Thursday underwent their first grilling in front of party members as they wage a bitter duel to succeed PM Boris Johnson. The hustings in Leeds, northern England, was the opening bout of 12 nationwide events as the grassroots members elect a new leader, after a cabinet revolt forced scandal-hit PM Boris Johnson to quit. The result will be announced on September 5, and Truss has built up a strong lead in surveys of Tory members after vowing immediate tax cuts as Britain confronts a slump in living standards.
Truss is rated a 90% shot to succeed Johnson as head of the Conservative Party and PM, according to betting exchange firm Smarkets. The firm says Sunak's chances of becoming PM have plummeted to 10%. "When the race first narrowed down to the final two, Truss was rated a 60-40 favourite to win, but the odds have continued to move in her favour," said Matthew Shaddick, head of political markets at Smarkets. "Many were forecasting that Rishi Sunak would be a better campaigner, but Truss's debate performances have beaten expectations."

Truss is odds-on with other sites too - she's 1/8 at Ladbrokes, Paddy Power and William Hill, according to Oddschecker. Sunak is lagging way behind Truss at 6/1 with Sky. Odds from betting on politics should be taken with a pinch of salt, but they give clues as to the direction the contest is headed.
Sunak conceded he was the underdog in the race, but vowed to fight for every vote. "I know the polls say I'm behind in this race," Sunak said in his opening pitch. "I'm asking for all of your support. And I promise you, I am going to fight for every single vote." The former chancellor of the exchequer admitted his pledge not to cut personal taxes until inflation is under control was not universally popular, telling Tory members: "Even though it hasn't made my life easy, it is the honest thing to do." Truss, on the other hand, promised a "complete review" of the tax system, saying it was "too complicated" and must be fair for families. Truss got a major boost when defence secretary Ben Wallace declared he was backing the foreign secretary, telling The Sun that Sunak was wrong to walk out of the cabinet and trigger Johnson's downfall.
In a dramatic moment at the hustings in Leeds, a Tory member questioned Sunak's decision to quit as chancellor and accused him of backstabbing his former boss. Sunak responded by saying he was left with no choice after it had become clear that there was "a significant difference of opinion" on the economic direction of the country. "There is no way that the PM and chancellor cannot be joined at the hip with regard to economic policy, particularly at a time when the economy faces real challenges," he said. He did get applause at points during the session, including for his tough stance on immigration.
Sunak and Truss are competing in a six-week tour of hustings around Britain for the votes of some 175,000 Tory party members. Agencies