Betting on politics: the North of Tyne mayor
Matthew Partridge turns his attention to the forthcoming mayoral election in the North of Tyne combined area, due to take place in May.

This week, I'm turning my attention to the forthcoming mayoral election in the North of Tyne combined area, due to take place in May. The area, which was created by a 2018 devolution agreement, spans three local authorities: Newcastle Upon Tyne, North Tyneside and Northumberland, with an elected mayor taking responsibility for areas covering development, education and transport.
There are four candidates: Labour's Jamie Driscoll, Tory Charlie Hoult, Liberal Democrat John Appleby and independent John McCabe. The fight is considered to be a two-way contest between Driscoll, who made headlines when he defeated the current leader of Newcastle City Council to be selected as Labour's candidate, and businessman Hoult. At the moment Ladbrokes has Driscoll as favourite at 1/3 (75%) and Hoult in second place at 9/4 (30.7%), with McCabe at 16/1 (5.8%) and Appleby at 50/1 (1.9%).
The Tories will be hoping that Driscoll's low profile enables them to pull off an upset, but this is unlikely. The big problem for them is that, while Northumberland is currently controlled by a minority Conservative administration, the
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
other two councils are solid Labour territory, Indeed, Conservatives don't have even a single councillor in Newcastle and control only six of the 60 seats on North Tyneside. I'd therefore take the 1/3 on Driscoll being elected mayor.
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.

Matthew graduated from the University of Durham in 2004; he then gained an MSc, followed by a PhD at the London School of Economics.
He has previously written for a wide range of publications, including the Guardian and the Economist, and also helped to run a newsletter on terrorism. He has spent time at Lehman Brothers, Citigroup and the consultancy Lombard Street Research.
Matthew is the author of Superinvestors: Lessons from the greatest investors in history, published by Harriman House, which has been translated into several languages. His second book, Investing Explained: The Accessible Guide to Building an Investment Portfolio, is published by Kogan Page.
As senior writer, he writes the shares and politics & economics pages, as well as weekly Blowing It and Great Frauds in History columns He also writes a fortnightly reviews page and trading tips, as well as regular cover stories and multi-page investment focus features.
Follow Matthew on Twitter: @DrMatthewPartri
-
8 of the best converted properties for sale now
The best converted properties for sale – from an apartment in the former Hartley’s Jam factory on London’s Southbank, to a converted 18th-century mill in Itteringham, Norfolk
-
How taking a two-year career break could leave a £26k hole in your pension
Career breaks are increasingly common but it is important to take steps to protect your pension, as gaps compound over time
-
Betting on politics: who will win Norway's general election?
Tips Norway is due to go to the polls in a general election in a few months’ time. Matthew Partridge casts his eyes over the candidates and picks a favourite.
-
Betting on politics: don't put your money on the SNP
Features Scottish voters are strongly opposed to another independence referendum, says Matthew Partridge. That opens up a few tasty punts against he SNP.
-
Betting on politics: two parliamentary seats worth a punt on
Features Matthew Partridge takes a look at the odds on two seats up for grabs in the next general election.
-
Betting on politics: the odds on the next Conservative leader
Features With the contest to become the next Conservative leader heating up, punters are pouring money into the betting exchanges. Matthew Partridge weighs up the odds.