Thursday 7 July 2016 12:18 pm

Home secretary Theresa May remains the favourite to replace David Cameron as MPs vote to select the final candidates for the Tory leadership

Home secretary Theresa May remains the overwhelming favourite to succeed David Cameron as Tory MPs vote again on the contenders for the leadership.

They are voting today to choose the final two candidates for Conservative leader, and therefore Prime Minister.

The final two will be voted on by party members, with the Conservatives planning to choose a new leader by 9 September.

And bookmakers say that after a dominant performance in the first round of voting, May remains the strong favourite to win out overall.

Read More: Liam Fox loses out as Theresa May wins first Tory leader ballot

Both Ladbrokes and William Hill currently have the home secretary as the 1/5 favourite.

Energy minister Andrea Leadsom, who has garnered attention in recent days for her refusal to publish her tax returns and claims around her career in finance, is priced at 9/2 by both firms.

Justice secretary Michael Gove, who was last night embarrassed when a supporter texted MPs to urge them away from backing Leadsom, is considered the outsider, at 12/1 with William Hill and 14/1 at Ladbrokes.

Ladbrokes head of political betting Matthew Shaddick says: “Confidence seems to have faltered a little in Andrea Leadsom, I think due to her CV issues, but the closing odds on the 2nd ballot suggest she is still a strong odds-on favourite to get the other place on the members' vote.

“Gove is out to 14/1 to be the next leader, but we are still taking some money on him, so I wouldn't totally rule out his chances.”

The party will announce the final two contenders to replace David Cameron after 4pm this afternoon.