London, July 8 (TIWN) Boris Johnson will resign as leader of the UK's ruling Conservative Party on Thursday but will continue as Prime Minister until later this year.

Defence Secretary Ben Wallace, Foreign Secretary Liz Truss, and former Health Secretary Sajid Javid make up the rest of Sky Bet's top five contenders to replace Johnson. Outsiders for the job include new Chancellor of the Exchequer Nadhim Zahawi and former Foreign Secretary Jeremy Hunt, both on the market at odds of 9/1 and 12/1, respectively.  Despite mounting speculation of a general election this year, bookies suggest one is more likely to happen in 2023 or later.