by Kenny Stevenson
There has been some buzz over Yvette Cooper’s popularity spike since taking her principled and courageous stand on Europe’s refugee crisis. The bookies have slashed her odds to make her second favourite to become Labour’s new leader on Saturday. But can she conceivably overtake Jeremy Corbyn?
First things first: don’t trust the bookies. Stephen Bush has correctly pointed out they aim to maximise profit, not predict outcomes. When punters took Corbyn’s original price of 100/1, his odds began to drop. It was not until after YouGov’s membership polls that he became the odds-on favourite. So while the contest is still Corbyn’s to lose, his price is as much a reflection of bookies’ damage limitation as it is his popularity.
Similarly for Cooper, speculation over a last-minute surge – and, presumably, more people betting on her – has seen her price reduced from 10/1 to 4/1. But unlike Corbyn’s price change, there have been no membership polls to inform the bookies. Cooper’s price drop is based on hearsay. With no new polls, we should assume no significant movement in voting intentions. Corbyn is still on course to win.
So how can Cooper win? Let’s indulge in some conjecture. If we look at voting intentions reported in the last YouGov poll, the first preference breakdown is as follows:
