Ed Miliband (R) (credit: Getty Images)
Ed Miliband is set to resign as leader of the Labour party and the odds suggest that Andy Burnham or Chuka Umunna will replace him as leader of the opposition in a new look UK parliament.
It has been a disastrous General Election campaign for Labour and the early results suggest that they are set to not only poll less votes than the Conservatives but that they will lose by an overall majority.
This means that Ed Miliband will have overseen a worse result than Gordon Brown in 2010 and the Labour leader is almost certain to pay for the poor showing with his job.
Miliband’s resignation as Labour leader is expected to be publicly announced within the next 24 hours and it will spark what could become a scramble to replace him, as Labour try to find a way to regroup.
There are various options that the party could take and the bookies think that one of the leading candidates to become party leader is Andy Burnham, who is a best price of 5/2 with Ladbrokes to replace Miliband.
Burnham was well behind Miliband in the 2010 leadership fight but he is expected to perform better this time and his slick PR could be the route that Labour choose to adopt.
Chuka Umunna would perhaps be a more interesting appointment and most firms make him favourite, although Paddy Power are keeping the 36-year-old at 5/2.
Yvette Cooper is a 4/1 shot to be the next Labour leader while Dan Jarvis is 8/1 with William Hill. There are no other single priced candidates.