Calls have been made to suspend the Conservative candidate for Montgomeryshire and Glyndwr after an inquiry was launched over a bet he placed on when the general election would be held.

Craig Williams, who was the Montgomeryshire MP with a 12,000 majority until the boundary changes ahead of the election on 7 July is one of then-Prime Minister’s Rishi Sunak’s closest aides.

According to The Guardian, Mr Williams, who became an MP in 2019 and served as parliamentary private secretary to Mr Sunak, placed a £100 bet with the bookmaker Ladbrokes on Sunday, 19 May that there would be a July election just three days before the prime minister named the date.

He stood to win £500, with the odds of a surprise July election listed at 5/1.

After flags were raised due to Mr Williams’ name and location being attached to the wager, Ladbrokes referred the case to the Gambling Commission, which is understood to have launched an inquiry.

In a statement on social media, Mr Williams said: “I’ve been contacted by a journalist about Gambling Commission inquiries into one of my accounts and thought it best to be totally transparent.

“I put a flutter on the general election some weeks ago. This has resulted in some routine inquiries and I confirm I will fully cooperate with these.

“I don’t want it to be a distraction from the campaign, I should have thought how it looks.”

Following the revelation, Liberal Democrat Deputy Leader Daisy Cooper called for Mr Williams to be suspended.

“Not content with gambling with the country’s future, it now appears that a senior Conservative may have been trying to turn a quick buck on the election date,” she said.

“Given that Craig Williams is Rishi Sunak’s close personal aide, it is incumbent on the Prime Minister to immediately suspend him as a candidate and Conservative Party member while the inquiry takes place.”

The Gambling Commission said that if “someone uses confidential information in order to gain an unfair advantage when betting” then “this may constitute a criminal offence.”

A spokesperson said: “The Gambling Commission does not typically confirm or deny whether any investigations are under way unless or until they are concluded, or if arrests are made or charges are brought during a criminal investigation.”

The MPs’ code of conduct also prohibits members from “causing significant damage to the reputation and integrity of the house”.