Bookmakers say Jeremy Corbyn will be the Labour leader for at least another four years

Bookmakers have given embattled Labour leader Jeremy Corbyn a much-needed vote of confidence, saying he will not be going anywhere until at least 2020.

Sky Bet gives Corbyn 6/4 odds of leaving the Labour leadership in 2020, the favourite in its "leader exit date betting" market. The next most likely year is 2017, with odds of 2/1.

But Corbyn should not take too much solace from the favourable odds - his 2020 exit prediction coincides with the time when most bookmakers think the next UK General Election will happen, suggesting bookies think Corbyn will have no chance of winning when his party goes head to head with Theresa May's Conservatives.

For now, at least, Corbyn is the firm favourite to beat Labour rival Owen Smith in the party's leadership election in September.

A recent poll by the Huffington Post suggests that 65% of the people who recently became a Labour member to vote in the leadership election did so to support Corbyn, which comes to about 90,000 people. On top of that, the majority of pre-existing Labour members also support him.

But Corbyn's leadership has been a turnoff for the UK electorate if other polls are anything to go by. A YouGov survey conducted on August 2 showed a 42% voting intention for the Conservatives while Labour voting intention is at just 28%.

Corbyn is speaking in Dagenham today where he is expected to set out 10 pledges "to rebuild and transform Britain," according to the BBC. Part of the plan is to create over a million jobs by building new infrastructure, while he is also set to announce a pledge to eradicate the increasing privatisation of the NHS.