After the recent Glenrothes by-election, things are starting to look significantly rosier for Gordon Brown and the rest of the labour party. In fact, some popular bookmakers are already saying that an early election now looks likely. The odds for the UK's next general election being held in 2009 have been shortened considerably- from 2/1 down to 10/11, currently.
2008 Election Unlikely
After a momentous election happening in the United States recently, some political observers were predicting a snap-election before Christmas could be in the cards, but the recent odds from Paddy Power show that that is a distinct long-shot, listed at 20/1. Despite Brown possibly wanting to capitalize on his recent momentum, things look pretty dark for an election right now in the middle of the financial crisis. A 2009 or 2010 election is paying 10/11.
Second Half of 2009 Favoured
Seemingly, the Labor Party is adopting a "wait and see" approach to the recent financial turmoil associated with the credit crunch. Labor is banking on hopes that things will have more or less sorted themselves out by 3rd quarter 2009, or at least the markets will have found bottom. A July-December 2009 election will pay out at 7/4. If things improve in the short term, a first-half election could be in the cards if Labor is looking to capitalize on good news. A January-June election is paying a full 2/1.
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