Tories on course for big majority increase

The starting gun for the 2017 general election has been fired with MPs approving the motion calling for a vote on June 8 by 522 to 13.

A more even contest will take place when the polls open in seven weeks but early betting indicates that the Conservative Party are heading for a big increase in their 17-seat majority.

The Conservatives were well supported in a range of markets yesterday, shortening from 1-12 to 1-14 to win the most seats and from 2-9 to 1-6 to win an overall majority.

Paddy Power increased their under/over Conservative seats position (5-6 your choice) from 345.5 to 368.5, while cutting Labour’s from 195.5 to 165.5.

And there was early evidence of support for the Liberal Democrats, with Paddy Power shifting the party’s under/over seat market from 25.5 to 31.5.

The Liberal Democrats’ clear position on Brexit should see them get much closer to Labour.

Labour have not finished outside the top two in a general election since 1918 but a race with the Liberal Democrats could be developing with Ladbrokes offering 7-2 that Tim Farron’s Party win more votes than Jeremy Corbyn’s. Labour are 1-5 to prevail.

A dreadful result for Labour could precipitate the end of Corbyn’s leadership of the party.

Speculation about who will succeed Corbyn has already started and Yvette Cooper has a attracted support in the next Labour leader market.

Since the start of the week Cooper’s odds have been slashed from 22-1 to 7-1 with bet365.