Next prime minister: Michael Gove and David Lidington emerge as bookmakers’ favourites to replace Theresa May

Cabinet ministers Michael Gove and David Lidington have emerged as bookmakers’ favourites to replace Theresa May at No 10, amid reports the prime minister is facing pressure from senior Conservatives to resign.

Mr Gove, the environment secretary, is now favourite for the job with the majority of bookies, having been cut from 6/1 to as short as 11/4, according to Oddschecker – the comparison site which compiles odds from all the leading betting firms.

But Ms May’s de facto deputy Mr Lidington is joint favourite with several companies at 11/4, having been priced way out at 14/1 just yesterday.

It follows speculation members of the cabinet are plotting an imminent “coup” to get rid of Ms May.

According to The Sunday Times, 11 cabinet ministers said they wanted her to make way for someone else and at least six favour Mr Lidington in taking over as a caretaker to help deliver Brexit.

Speaking outside his home on Sunday morning, Mr Lidington told reporters the speculation was “far-fetched”. He said: “I don’t think that I’ve any wish to take over from the PM (who) I think is doing a fantastic job.”

Mr Gove later told the BBC: “It’s not the time to change the captain of the ship, I think what we need to do is to chart the right course.”

Chancellor Philip Hammond has accused any MPs allegedly trying to oust Ms May of being “self-indulgent”. Mr Hammond said replacing the prime minister would not “solve” the Brexit crisis, despite fierce criticism of her handling of the process.

Pro-EU former education secretary Nicky Morgan told The Sunday Telegraph that cabinet ministers should tell Ms May “it’s time to go”.

Several Brexiteer MPs told the newspaper Ms Morgan would make a good “unity” candidate to take over and lead current negotiations. Brexiteer Steve Baker said any potential leadership contenders in the government should “act now”.

Ms May’s former policy adviser MP George Freeman said: “I’m afraid it’s all over for the PM”, tweeting: “She’s done her best. But across the country you can see the anger.

“Everyone feels betrayed. Government’s gridlocked. Trust in democracy collapsing. This can’t go on. We need a new PM who can reach out [and] build some sort of coalition for a PlanB.”

Conservative peer Lord Gadhia, a former member of David Cameron’s inner circle, said the upcoming days may be “very dramatic” and could see the end of Ms May’s time at Downing Street.

Oddschecker said 44 per cent of all bets on the next prime minister in the last 24 hours have been placed on Mr Lidington. Mr Gove has been the second most backed with 23.8 per cent.

Mr Lidington, the 62-year-old MP for Aylesbury, has emerged as a surprise frontrunner given his relatively low public profile.

He was appointed Leader of the House of Commons in 2016, before the prime minister promoted him to her deputy earlier this year. The senior Tory has supported Ms May’s efforts to pass the Withdrawal Agreement in the Commons.

Mr Gove was a leading figure in the campaign to leave the EU, as is reportedly the Brexiteers’ favoured candidate to replace the prime minister.

Boris Johnson is third favourite to become the next prime minister, with odds of 8/1.

With it looking more likely Ms May could be replaced by her own party before any general election, the Labour leader Jeremy Corbyn has drifted out from Friday’s favourite to 9/1 on Sunday.