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Boris Johnson Wins Tory Leadership Contest

Courtesy of ZeroHedge. View original post here.

Update: Boris Johnson wins by a wide margin of more than 2-1 (he won 66% of the vote, a clear mandate from his party.).

Tories

The count was:

  • Hunt: 46,656
  • Johnson: 92,153
  • Turnout: 87.4% (there were just under 160,000 eligible Tory voters)

The pound has rallied back to unchanged on the day. BoJo will be sworn in as PM on Wednesday afternoon after May holds her final PMQ.

BoJo

BoJo is giving his victory speech now. Watch it below.

* * *

After weeks of campaigning and some unexpected twists, the Tories are set to announce the winner of their leadership contest

With the announcement imminent, cable is slowly rebounding.

The victor will be sworn in as the new PM on Wednesday.

Boris Johnson has a wide lead in the polls over Secretary of State for Foreign and Commonwealth Affairs Jeremy Hunt, and though his campaign has been marked by some unexpected scandals, he's still widely favored to win. But a number of senior figures in Theresa May's government have resigned their posts, and on Monday, Sir Alan Duncan quit his Foreign Office role and called for MPs to have a vote before this on whether they actually will support Johnson forming a government. However, his call for a vote was blocked by the Commons speaker.

According to online bookmakers, Boris Johnson is 66/1 on to win the (and 33/1 on to be the next PM), while Jeremy Hunt is 25/1 against. Odds also favor the UK staying in the EU past the Oct. 31 deadline, and that the UK will leave with a deal.

Watch live coverage of the leadership contest.


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