Yesterday, former UK shadow Business Secretary Angela Eagle announced her withdrawal from the Labour Party leadership contest after losing to ex-Shadow Secretary of State for Work and Pensions Owen Smith in an informal contest for support of MPs (Members of Parliament) in opposition to current leader Jeremy Corbyn in the contest. She says she will support Smith with all her "enthusiasm and might".
Ms. Eagle and Mr. Smith agreed whichever got the least nominations from MPs and MEPs (Members of the European Parliament) would drop out of the leadership race.
This comes after MPs' criticism of Corbyn's performance in the recent "Brexit" referendum — which passed despite Labour opposition — displayed in a recent vote of no-confidence in Corbyn's leadership capability, which received a no-confidence majority of over eighty percent.
Owen Smith supports policies such as reintroducing the 50 percent top tax rate, a £200 billion investment plan, and a referendum on any deal on leaving the EU. He has also criticised Jeremy Corbyn's anti-austerity message as lacking substance. He said "it is not enough to just be anti-austerity, we need a concrete plan for prosperity".

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Angela Eagle drops out of UK labour leadership contest