Tories shocked at Cleverly exit while Labour MP says Badenoch-Jenrick contest is a ‘gift’ – UK politics live

Audible gasps as apparent frontrunner is eliminated while political rivals are gleeful

Bookmakers have cut the odds on Kemi Badenoch becoming next Tory leader because there has been a surge of money going her way in the last 24 hours, according to Oddschecker, a betting prize comparison website. Leon Blackman, a spokesperson for the firm, said:

Kemi Badenoch's sudden surge in support has shaken up the Conservative leadership market. Within a day, her odds have been slashed from 6/1 to 6/4, as she takes the lion's share of today's bets. While Cleverly remains the favourite, his hold on the top spot looks increasingly precarious.