Politics
Torsten Bell shortens to replace Reeves as next Chancellor
Parliamentary Secretary for the Treasury, Torsten Bell, has been cut in William Hill’s betting to be the next Chancellor of the Exchequer after Rachel Reeves.
Bell has shortened to 7/2 from 5/1 to be the next Chancellor after it emerged that he would help lead preparations for Reeves’ Autumn Statement.
Pat McFadden remains the favourite to assume Reeves’ position should she depart, despite drifting slightly in the betting to even-money from 10/11.
Bet on Politics with William Hill
Next Chancellor of the Exchequer
Punters can bet on who’ll be named the next Chancellor of the Exchequer at William Hill and here is the current state of the market:
Pat McFadden
EVS
Torsten Bell
7/2
Darren Jones
7/1
Wes Streeting
9/1
Yvette Cooper
10/1
BAR
14/1
*Odds subject to change – prices accurate at the time of writing
With speculation growing around Reeves’ future, William Hill are seeing heightened interest in the next Chancellor betting market. Political punters are weighing both experience and proximity to Treasury decision-making, and Bell’s growing influence has added fresh momentum to the odds. McFadden, meanwhile, still carries the weight of Cabinet seniority.
Spokesperson for William Hill, Lee Phelps, said: “Chancellor of the Exchequer Rachel Reeves is widely expected to announce a tax hike when she delivers her Autumn Budget, and having appointed Torsten Bell to lead preparations, the MP for Swansea West has shortened in the betting to become Reeves’ replacement.
“Bell is a clear second favourite at 7/2, from 5/1, having been as big as 20/1 when the market opened, and could shorten further if Reeves comes under pressure in the coming months.
“As a result of the move on Bell, long-time favourite to be Reeves’ replacement, Pat McFadden, has drifted out to even-money, having recently been an odds-on 10/11 shot.”
Could Torsten Bell be the next Chancellor?
Bell’s rapid rise in the betting odds is attracting attention not only from bookmakers but also from political commentators. His experience at the Institute for Fiscal Studies before entering Parliament gives him economic credibility, while his current role inside the Treasury places him close to the levers of power. For punters looking at the next Chancellor market, Bell now represents the strongest alternative to McFadden.
Meanwhile, the drift on McFadden suggests punters are starting to hedge. While he remains the front-runner in next Chancellor betting, Bell is increasingly seen as the emerging challenger.
Other names such as Darren Jones (7/1) and Wes Streeting (9/1) remain in contention, though both are considered outsiders. Yvette Cooper also features, but her focus on the Home Office makes her a less likely pick in the near term.
Ultimately, the future of this market depends on Reeves herself. Should her Autumn Budget be well-received, speculation will cool, but if tax rises prove unpopular, pressure may mount, and Bell’s price could shorten further. For those following UK political betting markets, the race to be the next Chancellor is far from settled.
