David Shearer announced he was stepping down from the party's leadership on Thursday, sparking speculation about who will succeed him
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His deputy Grant Robertson and Mr Cunliffe, who lost to Mr Shearer in the leadership contest after the 2011 election, say they are keeping their options open
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Neither would confirm their intentions on Thursday, saying they were going to talk to their colleagues and their families before making decisions
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But late on Thursday evening, Mr Cunliffe was leading the stakes on Victoria University's online predictions market, iPredict.
The probability of Mr Cunliffe becoming the next Labour leader was at 66 per cent, while Mr Robertson was sitting at just under 26 per cen>.
Front-bencher Jacinda Arden was a five per cent probability and former trade union leader Andrew Little was a rank outsider at two per cen.
Meanwhile, the probability of there being a Labour Party prime minister after the 2014 general election has jumped almost eight percentage points, to 47 per cent. The probability of there being a National Party prime minister was at 53 per cent.
The Labour Party will call for nominations within 48 hours and it will take three to four weeks to choose a new leader.
Under Labour's new rules, which have never been tested, caucus has 40 per cent of the vote, party members 40 per cent and affiliated unions 20 per cent.
There will be a road show campaign as the candidates go around the country drumming up support.
PR
