Theresa May’s position as Prime Minister is far more secure than it looks.

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In the few days since Theresa May’s difficulties during her keynote speech at last week’s Conservative Party Conference, rumours have abounded as to how much longer she can remain in the role, suggesting that her premiership is teetering on a cliff edge. In fact, it is anything but.

It says a lot, that the only attempt at a rebellion was led by the comically inept Grant Shapps (as many commentators were quick to point out, one wonders how many of the names on Shapps’ “list” were his own alter egos…), and it is highly unlikely that any credible figure will emerge to depose May any time soon.

For the few Cabinet members who could provide a credible alternative to Theresa May, it makes absolutely no sense to try and take over right now.

David Davis? He’s seen first hand how difficult Brexit will be to actually deliver, so there’s absolutely no way he’d want to carry the can for the disaster.

Amber Rudd? Perhaps the Cabinet member best suited to being PM, but difficult to imagine her wanting to take up the job whilst simultaneously trying to defend a wafer thin majority in her own constituency, and given that she was an arch-remainer, she wouldn’t be a popular choice with the party membership.

Philip Hammond? Too boring!

And Boris? Well, given that his primary concern is polishing his own reputation he’d have no interest in the impossible task of trying to deliver his referendum promises — instead preferring to come in “save the day” when the damage has already been done.

And given that no rebellion is ever going to have one of these people as a figurehead, it is unlikely to have any real success.

The main reason for this, is that despite many Conservative MPs (likely including those listed above) feel that Theresa May leading them into the next election would be inadvisable, they are terrified of the civil war they’d precipitate by deposing her. Since the referendum, most of the commentary on party divisions has focused on the Labour Party, and the stark divisions between the Corbynites and the Blairites. In fact, the Conservative Party are as (if not more) divided — up to now at least they’ve just been better at hiding it.

Any leadership election would be bloody and completely tear the party apart. And after all that, the likely outcome would be Jacob Rees-Mogg winning the leadership — a surefire way to never win a General Election. It is laughable that some seem to think Rees-Mogg — an Old-Etonian whose views on social issues would have been considered old fashioned sixty years ago — the answer to the Conservative Party’s problems with young voters. But this is the guy who Tory activists will likely coalesce around, and as such moderates in the Party will have to find their own single candidate to avoid splitting the vote.

This candidate is unlikely to come to the fore until shortly before the next General Election (still scheduled for 2022), with some suggestion from Ruth Davidson that she may be open to the leadership post-2021.

Given this current situation, despite what it may look like, Theresa May’s position is actually pretty safe for now.

Despite this, Boris remains a danger. Although he won’t lead a rebellion, he’s likely to continue to cause trouble. May can’t sack him (although given his conduct as Foreign Secretary, this would be a perfectly proportionate response) as that would risk turning him into a martyr — already popular with the party membership, he’d use the sacking to manoeuvre himself into the leadership, and it’s always better to have your rivals inside the tent. Instead, she should reshuffle him, which May implied in interviews published today that she might be prepared to do. Demote him by moving him to Business, still sufficiently Brexity but with more to do, in the hope that this will prevent him from going off-piste quite so often — wading into other policy areas and causing damage. Do this, and May keeps herself safe.

Despite the current furore, things will quieten down soon. If the Cabinet want to get rid of May because of the election result, then the time to do so was immediately after the election — to back her immediately after the election only to stab her in the back a couple of months later would reflect very badly on the perpetrators in the long-run. Plus, no one wants to become Prime Minister, only to have to take responsibility of Brexit.

Although her position looks wobbly, at the moment it is anything but.

Hammond and Osborne should be the first names on May’s teamsheet.

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On Wednesday, David Cameron will take part in his last session of Prime Minister’s Questions before handing over the Prime Ministerial baton to Theresa May. Upon taking office May will almost certainly make significant changes to the existing Cabinet, with key allies such as Damian Green, Chris Grayling, and James Brokenshire potentially being promoted into big cabinet jobs.

One person who will be less sure of their position is George Osborne. Given Theresa May’s recent criticism of economic policy under the leadership of David Cameron and George Osborne, it seems likely that Osborne’s six year tenure as Chancellor of the Exchequer has come to an end. On Sunday May said:

For a Government that has overseen a lot of public service reforms in the last six years, it is striking that, by comparison, there has not been nearly as much deep economic reform. That needs to change.

This suggests that Theresa May intends to take a rather different strategy in terms of her economic policy, meaning that Osborne’s position as Chancellor is now untenable. You may think that this means the end of Osborne’s government career, and that he will be discarded from the cabinet to serve on the backbenches for the remainder of the Parliament. However, there is still a role that he could fill in Theresa May’s top team.

The overwhelming favourite to become the new Chancellor of the Exchequer is current Foreign Secretary Philip Hammond. Hammond has vast cabinet experience as Transport Secretary, Defence Secretary, and Foreign Secretary, and has also served as shadow Chief Secretary of the Treasury, making him ideally placed to take over as Chancellor. In addition, Hammond was a strong supporter of May during her ultimately short campaign for the Conservative party leadership. This leaves a vacancy at the Foreign Office which can be filled by Osborne.

Although there would likely be an outcry amongst the Conservative MPs who campaigned to leave the European Union that two supporters of the remain campaign are given the top jobs in the new government, the experience of Hammond and Osborne will be vital for the new government. The UK’s shortage of trade negotiators has been well publicised in recent weeks, with this shortage caused by the fact that it has been many years since the UK has been in a position of having to negotiate its own trade deals. Previously this was left to the relevant department of the European Union. With no potential cabinet members with experience of making trade deals, the international experience of Hammond and Osborne will be vital to the new government. Both have extensive experience of travelling abroad on government business, and both have cultivated strong relationships with their international counterparts. When it comes to negotiating international trade deals in the near future these relationships could be crucial. Although Theresa May has pledged to appoint a Secretary of State for Brexit (most likely Chris Grayling), Hammond and Osborne could be significant assets when it comes to negotiating with countries outside of Europe. Most importantly: Canada, China, India, and the United States.

Indeed, George Osborne is currently in the United States promoting closer US-UK relations, whilst he has also been promoting increased trade with the likes of China and India.

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Given that Osborne has already begun to promote Britain’s cause around the world, he would seem an obvious choice to become the new Foreign Secretary. This is a move that David Cameron himself was strongly considering had he remained as Prime Minister following a win in the EU Referendum.

In addition, Osborne reserved strong praise for Theresa May after she became the presumptive Prime Minister, indicating that he was willing to put behind him their previous disagreements upon cuts to public spending, as well as his keenness to continue in the cabinet.

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Therefore, despite the likely anger this will provoke amongst the Brexiteers (given that Osborne is hated for his prominent role in the remain campaign), Theresa May should make Osborne the new Foreign Secretary as his relationships with other world leaders will prove crucial in Britain being able to make strong trade deals in the years to come.

As for Philip Hammond, there are few individuals who are as qualified for the second highest office in the government. Hammond has frequently been described as boring. In January, The Times described him as ‘Mr Boring’, whilst in February The Guardian described him as ‘Dull Phil’. But, in this time of great upheaval, perhaps boring (and more importantly: competent) is exactly what is needed as Chancellor.

Overall, Hammond and Osborne should remain in the government when Theresa May announces her cabinet in the next few days. Although both backed the losing remain campaign (meaning that their appointment may prove divisive amongst those who backed Leave), they have significant experience in cultivating international relations and some continuity of personnel is exactly what is needed in this time of great uncertainty.