Home Secretary Amber Rudd resigned from Cabinet on Sunday night after weeks of political embarrassment over the Windrush scandal.
Ms Rudd told a parliamentary committee last week the Government had no specific targets for the removal of illegal immigrants.
But the former Home Secretary has now admitted to “inadvertently” misleading Parliament over the issue after it was revealed such targets did exist.
Her resignation has left an enormous amount of speculation over her replacement, with the Communities Secretary Sajid Javid currently out in front.
No 10 are expected to make announcement on Ms Rudd’s replacement today.
Since the resignation of the Hastings and Rye MP, speculation has been rife as to who Mrs May will pick to take up the Cabinet role.
This is the full list of favourites, according to bookmakers Ladbrokes.
Sajid Javid is listed as the current Ladbrokes favourite to be a potential successor to Ms Rudd and is considered a unity candidate for the role.
In an interview with the Telegraph this weekend, Mr Javid said of the Windrush fall-out: "It could have been me, my mum or my dad."
The Communities Secretary is seen as a uniting figure and issued a plea to ethnic minorities to look at the Government&apos;s efforts to "put things right."
Mr Javid’s odds to become Home Secretary are evens.
Michael Gove, current Environment Secretary and one of the leading Brexiteers during the EU referendum campaign, has been heavily tipped to be promoted.
He was banished from Cabinet when Mrs May first became Prime Minister but was unexpectedly given a new role on the front-bench just one year later.
Since taking on the Environment brief he has impressed many in the Conservative party for giving the Department a renewed sense of purpose while also being a staunch defender of the Prime Minister.
Ladbrokes have given him odds of 5/1 to be appointed as Home Secretary.
The Health Secretary, Jeremy Hunt, has also been tipped as a potential successor to Ms Rudd.
Like the former Home Secretary, Mr Hunt campaigned for Remain during the EU referendum, but has since said he has changed his mind.
The former Remainer claims to now be fully committed to Brexit and would vote ‘Leave’ if the referendum was held again.
He was expected to be sacked from his position as Health Secretary in Mrs May’s January Cabinet re-shuffle but remained in the post after persuading the Prime Minister not to move him.
Mr Hunt has odds of 6/1 to replace Ms Rudd.
His replacement as Northern Ireland Secretary, Karen Bradley, is also being tipped for the position.
Prior to taking on the Stormont brief Mrs Bradley was Secretary of State for Digital, Culture, Media and Sport.
However, with fresh tensions in Northern Ireland politics following the collapse of the Assembly last year, the Prime Minister may be unwilling to further disrupt political activities in the province.
Ms Bradley’s odds of becoming Home Secretary are also 6/1.
James Brokenshire has Cabinet experience but is currently without a brief after he stepped down from his position as Northern Ireland Secretary in January due to ill health.
The Old Bexley and Sidcup MP was diagnosed with the early stages of lung cancer, despite never having smoked.
Mr Brokenshire is now back in Parliament and could therefore be available for the job if he felt ready to return to the front-bench.
However, he was Immigration Secretary between 2014 and 2016 when Theresa May was Home Secretary and may therefore struggle to distance himself from the Windrush scandal.
Mr Brokenshire has odds of 8/1 to take on the role.
Solicitor David Gauke was elected to the House of Commons in 2005 and has been Secretary of State for Justice and Lord Chancellor since January 8, 2018.
He has previously held posts as Chief Secretary to the Treasury and Secretary of State for Work and Pensions.
Ladbrokes places him at 12/1 to succeed Amber Rudd as Home Secretary.