Owen Smith to stand in Labour leadership election

Former Shadow Work and Pensions Secretary Owen Smith has decided to run to become Labour leader, it has emerged.

The Welsh politician has gathered enough support from Labour MPs to join Angela Eagle in challenging Jeremy Corbyn.

Smith and Eagle have held talks in recent days over one of them becoming a so-called 'unity candidate' to take on the under-fire leader.

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However, they failed to reach an agreement and Eagle announced her own bid to oust Corbyn.

A senior Labour source said Smith will also announce his candidacy this week, and could even do it after today's meeting of the party's ruling national executive committee.

Smith has already said he was "ready to do anything I can to save and serve the party".

He has also accused Shadow Chancellor John McDonnell of saying in a private meeting that he was prepared to see the Labour party split rather than give in to the anti-Corbyn rebels.

Smith held private talks with Corbyn about the crisis which continues to engulf the party.

Meanwhile, Labour’s national executive is today expected to state whether Corbyn will need to get nominations from 51 MPs so he can stand in the leadership election, or whether he goes on the ballot automatically as the incumbent.