Labour MP Owen Smith declares candidacy in Labour leadership contest

The former shadow work and pensions secretary under Mr Corbyn said he would be a 'radical and credible' leader who could take Labour back into power.

Owen Smith at the Labour Party conference (PA)

The former Shadow Cabinet member Owen Smith has confirmed he will stand in the Labour leadership contest against Jeremy Corbyn and Angela Eagle.

Mr Smith, who served as shadow work and pensions secretary under Mr Corbyn, declared he would be a "radical and credible" leader who could take Labour back into power.

He launched his bid the day after Mr Corbyn secured his place on the ballot paper for a contest expected to stretch through the summer, following the ruling by the party’s executive that Mr Corbyn can stand for re-election as party leader – regardless of how little support he has from fellow Labour MPs.

The ruling that Mr Corbyn automatically has the right to stand makes it highly likely he will win the leadership contest triggered by Angela Eagle’s announcement that she is standing against him.

A Corbyn victory will exacerbate the rift between Labour MPs, three-quarters of whom have backed a motion of no-confidence in Mr Corbyn, and the mostly young activists around the country for whom Corbyn’s election last year has given a new meaning and purpose to politics

The Pontypridd MP told BBC Radio 4's Today programme that it was the right decision to ensure that Mr Corbyn can take part in the contest.

He accused some on the right of the party of acting in a way which could "split" Labour.

He said: "I will stand in this election and I will do the decent thing and fight Jeremy Corbyn on the issues, just as he will do with me, and at the end of that I will stand behind whoever the leader is.

"But I hope and I expect it will be me."

Mr Smith resigned from the front bench on 26 June, citing worries that Mr Corbyn had not been able to hold together a shadow cabinet that “draws upon the talents” of the whole party.

He is one of dozens of Labour MPs who has resigned over the Labour leader’s record.

Mr Smith and Ms Eagle were reportedly at odds over the last few weeks over who should be the candidate to challenge Mr Corbyn.

Ms Eagle’s campaign launch was partially overshadowed by news that Theresa May was to be the new Prime Minister – after her last rival sensationally quit the Tory leadership race.

"Jeremy Corbyn is unable to provide the leadership this huge task needs," she said at her launch event on Monday.

It is not yet clear whether Mr Corbyn will be automatically on the ballot paper in the leadership contest, or whether he would also have to gather nominations.

This might be difficult for him because of his very low levels of parliamentary support among MPs.

Legal advice given to the Labour party says that as an incumbent he ought to be represented in the race; this is however disputed.

Mr Corbyn was elected just in September by a landslide of Labour members, supporters and affiliated trade unionists.

Party grandees and MPs however warned against his election.