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Last Updated: Sunday, 16 May, 2004, 14:50 GMT 15:50 UK
Bookies cut odds on PM resigning
Tony Blair
Mr Blair's possible departure is becoming less profitable
Bookmakers have cut the odds of Tony Blair stepping down ahead of the general election next year after "cash poured in" for bets on his resignation.

William Hill is offering odds of 13-8 that Mr Blair will stand down compared to 14-1 on Thursday.

The odds of Mr Blair leading his party in the next general election in 2005 now stand at 4-9.

The premier's possible demise has attracted more money than a British victory at the Eurovision Song Contest.

A spokesman for William Hill said: "Cash poured in for him to quit. Now we are down to 13-8 and still taking three-figure bets for him to go."

He added that the punters' decision not to place too much money on the British Eurovision entry James Fox, a former Fame Academy pupil, had proved "good judgement" because anyone betting on him had lost their money.

"They still have a chance to win one way or another with Blair."

Chancellor Gordon Brown's chances of succeeding the premier were at 4-7, while Foreign Secretary Jack Straw becoming Labour's next leader was on at 10-1.

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