Prime Minister Cameron arrives in Downing Street
It's all change in the British political system over the last 24 hours!
We saw political theatre at its best last night as Gordon Brown handed in his resignation to the Queen. Just an hour later, Conservative leader David Cameron arrived at Buckingham Palace to accept an invitation to form the next government as Prime Minister.
George Osborne has been confirmed as the next Chancellor. The Betfair market on who was going to replace Alistair Darling has seen a flurry of bets over the last few months, with the likes of Vince Cable, Ken Clarke and Philip Hammond all seeing support at one stage or other. During the Lib Dem/Conservative negotiations as to the coalition deal, Cable reached as short as 2-1 (a 33% chance) of being the next incumbent of Number 11.
Looking forward, the chances of a second election in 2010 have decreased in the wake of the deal being announced. The prospect reached a high of 58%, but since the full coalition was announced those chances have decreased to their current level of just 17%.
In the betting on when David Cameron and Nick Clegg will leave office, the pair are both on 97% to stay beyond January 2011, when that betting market will be settled.
The updates to the Election Predict site will be reduced for the time-being until either another election is called (in which case be sure to check back here asap!) or we have more political markets available on Betfair. The updates of ComRes polling will also continue.
Thank you for reading over the last few months, we hope you have found the site of interest.
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