Nigel Farage resignation: Who will be the next Ukip leader? The four leading candidates

Following Nigel Farage’s decision to resign as leader of the UK Independence Party just a week and a half after Britons voted to leave the European Union, the party will soon hold a leadership contest. A new leader of the Eurosceptic group is expected to be announced before the Ukip conference in autumn – and speculation is already mounting as to who will replace Mr Farage at the helm of the party.

Douglas Carswell – the party’s only MP in Westminster – has already ruled himself out of the race after telling the BBC the chances of him going for the job were “somewhere between nil and zero”. Bitter recriminations have characterised the relationship between Mr Carswell and Mr Farage since October 2014, when, shortly before Mr Carswell won the Clacton by-election, they posed for cameras with a McDonald’s McFlurry ice cream.

When asked about Mr Farage’s often-criticised rhetoric on immigration, Mr Carswell said: “We went too far, and I criticised it when we went too far ... and it's not just morally wrong, it's electorally disastrous.

“This is a decent, generous country. People have a legitimate right of feel a sense of anger with their politicians but the answer to that is not to play on people's fears and anger but to promise the hope of something better.”

Here, The Independent runs through the potential contenders:

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Ladbrokes: 5/2 (Favourite)

Paddy Power: 5/2 (Favourite)

William Hill: 9/4

As MEP for North West England and party spokesperson for migration and financial affairs, Mr Woolfe is the current favourite to assume the leadership role. He was only elected as an MEP in 2014, and failed to win the Stockport seat at last year’s general election. However, he has impressed both the party and Mr Farage, trying to moderate the former leader’s tone on immigration whilst simultaneously praising his leadership, comparing him to former Manchester United boss Alex Ferguson.

Having been given odds of 5/2 by two top bookmakers, Mr Woolfe is currently edging ahead of rivals Suzanne Evans and Paul Nuttall, a strong position for the man who believes himself one of “half a dozen people” able to “take the leadership on or ... form a very strong coalition” in control of the party.

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Ladbrokes: 4/1

Paddy Power: 9/4

William Hill: 7/4 (Favourite)

Ukip deputy leader and MEP for the North West of England, Paul Nuttall is an early front-runner for the leadership post.

Mr Nuttall gave an interview to the press following Mr Farage’s resignation on Monday morning to discuss his own career and progression within the party, echoing the former leader’s sentiments that Labour’s instability presents potential gains for the party and its public opinion. These ambitions for both party and membership appear to have worked to Nuttall’s advantage, with one bookmaker declaring him favourite for the job at 7/4, and others placing him in second place behind Steven Woolfe.

His frequent appearances on programmes such as the BBC’s Question Time and ability to handle the media effectively have boosted his public profile.

Speaking after Nigel Farage’s resignation on Monday the former history lecturer, who played football for Tranmere Rovers in his youth, said he would take soundings from fellow MEPs and the party’s ruling national executive committee about a run for the leadership. He is believed in many circles to have the potential to pose a threat to Labour in its northern heartlands.

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Ladbrokes: 4/1

Paddy Power: 9/4

William Hill: 4/1

Ms Evans has already had a taste of party leadership, having stepped in when Mr Farage temporarily resigned following last year’s general election, an experience reflected in her good odds for the job. However, until September, Ms Evans is subject to a six-month party suspension, having publically fallen out with Mr Farage on several occasions, most notably when she refused to support his “Grassroots Out” Brexit campaign. In order to stand in the leadership contest, Ms Evans would need to be quickly reinstated by the NEC. Despite these obstacles, Ms Evans is still deemed likely to perform well in the contest, with two bookmakers declaring her joint second favourite with Paul Nuttall, behind Steven Woolfe.

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Ladbrokes: 8/1

Paddy Power: 7/4

William Hill: 4/1

As Ukip’s only MP – having in October 2014 won the Clacton seat that he had represented for the Tories – Douglas Carswell was seen by many to be Farage’s natural successor. However, tensions between the pair became clear as the referendum campaign concluded, and the MP is now only the fourth most likely to assume leadership, having told BBC News: “I am certainly not going to stand to lead Ukip.” Mr Carswell openly criticised posters showing queues of refugees – used by Mr Farage to suggest that immigration figures were too high and that Britain was at “breaking point” – calling them “morally wrong”.

In response, Mr Farage suggested that his protests made him unsuitable for Ukip membership. With odds as low as 8/1, it seems that these spats have damaged Mr Carswell’s leadership potential.