Michael Foster, a high profile Jewish Labour donor, has promised to stand against Jeremy Corbyn in the general election if the party leader does not stand down.
Mr Foster, whose family has given Labour more than £400,000 since 2010, said the party is facing “annihilation” because the “blinkered” Mr Corbyn lacks the attributes to win an election.
Writing in the Sunday Times, Mr Foster said: “There are a lot of things a political party looks for in a leader. Jeremy Corbyn possesses none of them. Because of him, Labour faces annihilation at the polls.”
The retired entertainment agent said Mr Corbyn should stand down if Labour fares poorly in upcoming council elections, promising to run against him in his Islington North constituency if he failed to do so.