Is a Rishi Sunak comeback imminent? UK PM Liz Truss' short-lived triumph

Rishi Sunak-Liz Truss: As Liz Truss sacked finance minister Kwasi Kwarteng, mutinous voices within the governing Conservative party increased.

Just over a month ago, Liz Truss defeated Indian-origin Rishi Sunak to become Britain's prime minister in a leadership contest following Boris Johnson's exit. Now, Liz Truss' victory seems short-lived as she is being seen increasingly unlikely to ride out the turbulence within her own Conservative Party and the financial markets. Her former leadership rival Rishi Sunak is anyways the bookies' odds-on favourite to make a comeback to 10 Downing Street.

Rishi Sunak-Liz Truss: Liz Truss, right, and Rishi Sunak in London. (AP File)

As Liz Truss sacked finance minister Kwasi Kwarteng, mutinous voices within the governing Conservative party continue to flag how Rishi Sunak had warned against the financial meltdown in the wake of Liz Truss' tax-cut policies, The Telegraph reported.

The Oddschecker bookies’ odds aggregator also showed Rishi Sunak racing ahead as the favourite to replace Liz Truss. But Rishi Sunak is letting the turbulence Liz Truss is facing to run its course as he aims to stay clear of accusations of plotting against her, Independent reported.

Even though Rishi Sunak is not an all-out favourite among his party, many are likely to tally behind him, telling Liz Truss that her ‘time is up’.

UK is set to unveil tax and spending measures later on Monday as new finance minister Jeremy Hunt takes lead following last month's budget that caused a market rout.