Deputy leader Tom Watson and former shadow business secretary Angela Eagle are rumoured to be possible challengers.
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“As far as we are concerned Mr Corbyn was democratically elected by the membership less than 12 months ago”.
“Stop the whispering, stop the corridor coups, stop trying to pressure an elected leader of the Labour Party to stand down without any vote or democracy”, his spokesman said. “So yes, I do think he’s a good leader”.
A seemingly endless string of his front bench team then quit in co-ordinated fashion, each releasing withering resignation letters, and on Friday two of them proposed the no-confidence motion which was voted upon yesterday.
Former foreign minister Jack Straw said Labour faced an “apocalypse” if an election was held with Corbyn still in office.
Mr McDonnell later acknowledged that the party was heading for a leadership election.
Discussing the ongoing attempts to remove Mr Corbyn from power, which has seen dozens of shadow cabinet members and frontbench MPs resign, Dame Margaret said: “This has been a rolling disaster not a carefully planned operation”.
According to ITV news, Labour party council leaders have also written to Jeremy Coryn, calling on him to stand down.
National interest In the House of Commons, David Cameron told Mr Corbyn during prime minister’s questions that it was time for him to step down. I’m somone who cares deeply anpout this country, deeply about my party, deeply about the causes I think Jeremy and I care about.
The big Labour-supporting trade unions indicated in a statement that they would not stand in the way of a contest if it was carried out “through the proper democratic procedures provided for in the party’s constitution”.
As he faced the Prime Minister, Corbyn stated the result of the European Union referendum was “a rejection of the status quo, a status quo which clearly isn’t delivering”.
Sources suggested that the party was planning to “double up” a number of jobs and that the Scottish job could be shared with the Northern Ireland portfolio.
“For heaven’s sake man, go”, said Cameron.
“Because – and this is one of the reasons I’m speaking out, because of what people are saying about this process – if you look at the people who are saying that Jeremy should go, it’s not people on one wing of the Labour party”.
Any future Labour leadership contest could have to be conducted amid reignited anger over the events of 2003.
Corbyn, who has long had a strained relationship with Labour’s MPs, nearly immediately came under pressure to quit because of his lacklustre role in promoting the Remain camp, which Labour officially campaigned for.
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Tens of thousands of people joined the party last summer in order to vote for the veteran socialist.
