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.

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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

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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.

Dr Matthew Partridge

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