He warned that Mr Corbyn is presiding over a party “teetering on the brink of a precipice”.
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The event, organised by local Labour Party members, with support from Momentum County Durham, will be held in Southside Social Club, Easington Village, SR8 3AX at 6pm. Some believe the 116-year-old party could split if bookmakers’ favorite Corbyn is re-elected.
He insisted he was not part of a coup or plot against Mr Corbyn, but said he has “lost faith” in the leader’s ability to hold the party together.
Corbyn’s rival, Owen Smith, has also pledged a substantial spending increase, including a “British New Deal” of £200bn worth of investment over five years, including substantial commitments to investment in the north of England, and major house-building and infrastructure projects.
He said: “I’m incredibly clear about this, I am just as principled as Jeremy, I’ve got fire in my belly just the same as Jeremy, but I tell you what, unless you win it doesn’t mean anything”.
Polling by YouGov suggested Labour’s support would fall to approximately 20 per cent if either the left or the right of the party split off.
“You are then going to split the left-of-centre vote and I’d have thought this really would be Armageddon for members of parliament. the downsides of having a split are so huge”.
He will also announce plans for an NHS-style National Education Service to give free childcare, school, college and university access. On top of this, Corbyn would put action against undercutting of pay and conditions through the exploitation of migrant labour at the centre of the Brexit negotiations.
“Owen Smith has now resorted to blackmail”.
Claiming that Universal Credit was the “new Tory vehicle for austerity”, Mr Smith said the forthcoming cuts would affect millions of families struggling with their bills. “Anything less shows it’s a cheap tactic from a disunity candidate”.
He will commit to implementing a “true” living wage of £8.25 an hour as recommended by the Living Wage Foundation, and extend the offer to all workers over the age of 18.
Questioned on how he would tackle corporate Britain, given his former job in the pharmaceuticals industry, Smith said he would want to “stick up taxes, for a start” and would be “much bolder in terms of high pay”.
“Jeremy has certainly got the ability to motivate people in a room”.
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Meanwhile, the decision to bar Labour members who joined after 12 January from voting in the election is being challenged in the high court, in a crowdfunded case brought by some of the estimated 130,000 people who have been excluded.
