11 MARCH 1966, Page 9


A good deal of the money that's going on Labour isn't betting in the normal sense of the word at all, but an insurance policy taken out by nervous capitalists fearful of what a greatly increased Socialist majority might do to their investments. That's one reason why the present odds are so absurd; another, paradoxically, is thal the -political market lacks the professionals Who prevent the racing odds from getting out of line. As I write. both Ladbrokes and William Hill are offering a still tax-free four to one against the Tories. I'll be very surprised if there isn't an opportunity to lay it off at near two to one before March is out.