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Labour have indulged in plenty of soul searching since their crushing General Election defeat. But while the party’s top brass muddle through their appointment of a new leader political punters have been far more proactive in making their voice heard.

Ladbrokes are reporting a flurry of bets being taken on Shadow Business Secretary Chuka Umunna with the 36-year-old’s popularity continuing to soar.

Umunna was a 6/1 shot for the leadership before Labour’s calamitous showing at the polls but now finds himself as short as 11/8.

Meanwhile, the battle for the Liberal Democrats top post appears to be done and dusted. Ambitious Westmorland and Lonsdale MP Tim Farron is the hot favourite at 1/5 with Norman Lamb (7/2) and Alistair Carmichael (14/1) next best in the betting.

Fancy a political punt? Sign-up to Ladbrokes and get a £25 free bet! Place your bets on the Next Labour Leader, Next Lib Dem Leader and a wide range of other markets.