Monday 03 August 2015 5:20 pm

Labour leadership race: Shadow chancellor Chris Leslie confirms he would not serve under Jeremy Corbyn

The Labour party would “not be the party” the shadow chancellor Chris Leslie joined if Jeremy Corbyn won the leadership.

In an interview with the BBC, Leslie said Labour needed to find a “credible” alternative Prime Minister and that he would not service under Corbyn if he did win the leadership.

Leslie is backing Yvette Cooper for the Labour leadership, and insisted Corbyn’s agenda would be economically unviable.

In an interview with the Independent, Leslie urged his party to reject Corbyn’s “starry-eyed hard left” strategy, which will ensure a decade of Conservative government. Leslie added:

Printing money and ending Bank of England independence would push up inflation, lending rates, squeeze out money for schools and hospitals and mean spending more on debt servicing.

Higher inflation and a higher cost of living would hit those on the lowest incomes, the poorest people who couldn't afford those goods and services.

This comes as Corbyn now leads the pack after having won the backing of the two biggest unions in the UK.

However, Leslie is the most recent in a strong of high ranking Labour officials who say they will turn down Cabinet positions under Corbyn, including Liz Kendall, Yvette Cooper, Tristan Hunt and Chuka Umunna.

This is despite Corbyn’s indication that he would build a cabinet from all factions of the party and amidst former Labour leaders urging support for other candidates.