Streatham MP Chuka Umunna is a firm to succeed Ed Miliband after the leader’s resignation at the party’s London headquarters today.
He held his south London seat comfortably, extending his share of the vote from 42.8% in 2010 to 53%.
In his victory speech at Brixton Recreation last night, Mr Umunna said: “In terms of the bigger picture I’m not going to say anything about that.”
But hot on the heels of Mr Miliband’s resignation bookmakers Paddy Power, Betway and Betfair have slashed the odds on the shadow business secretary assuming the leadership to 2/1.
Mr Miliband said: “I take absolute and total responsibility for the result and our defeat at this election.
“Britain needs a Party that can rebuild after this defeat so we can have a government that stands up for working people again.
“Now it’s time for someone else to take forward the leadership of this party, so I’m tendering my resignation taking part after this afternoon’s commemoration of VE Day at the Cenotaph.
“I want to do so straight away because the party needs to have an open and honest debate about the right way forward without constraint.”
Andy Burnham and Yvette Cooper are also among the front-runners for the role as seek to rebuild following last night’s catastrophic defeat.
Picture courtesy of Labour Party, with thanks