http://www.dailymail.co.uk/news/article-3693903/Is-Kinnock-Paddy-Party-150-Labour-MPs-plotting-breakaway-Jeremy-Corbyn-clings-power.html?ito=social-facebook

Is it the Kinnock & Paddy Party? 150 Labour MPs plotting breakaway if
Jeremy Corbyn clings on to power

Anti-Corbyn MPs poised to make approaches to Labour's top 50 donors
They will fund the new party if the Corbyn fends off leadership challenges
Mr Kinnock, the son of former Labour leader Neil Kinnock, has held
secret talks with former Liberal Democrat leader Paddy Ashdown
But Ashdown denies discussions about forming new centre-ground party
By GLEN OWEN POLITICAL CORRESPONDENT FOR THE MAIL ON SUNDAY

PUBLISHED: 23:58 GMT, 16 July 2016 | UPDATED: 11:22 GMT, 17 July 2016

More than 150 Labour MPs are plotting to form a breakaway party
codenamed 'Continuity Labour' if Jeremy Corbyn wins the leadership
battle – with Stephen Kinnock tipped to head it.

The Mail on Sunday understands a group of leading anti-Corbyn MPs are
poised to make approaches to Labour's top 50 donors to fund the new
party if the Labour leader fends off challenges from Angela Eagle and
Owen Smith.

The plot emerged as this newspaper also established that Mr Kinnock,
the son of former Labour leader Neil Kinnock, has held secret talks
with former Liberal Democrat leader Paddy Ashdown about 'safeguarding
the interests of our country'.

Lord Ashdown denies that the discussions included the formation of a
new centre-ground party.

Mr Corbyn was plunged into the leadership contest after losing a
confidence vote among Labour MPs by 172 votes to 40, followed by
dozens of resignations from his frontbench team. Ms Eagle, the former
Shadow First Secretary of State, and Mr Smith, the former Shadow Work
and Pensions Secretary, have both since announced leadership bids.

With Mr Corbyn still commanding a strong following among ordinary
party members, most moderate MPs accept the party will split if he
hangs on to the leadership in September's vote.

A senior source said: 'If Corbyn wins, the party is finished in its
current form. There are at least 150 MPs who would break away, and
many are already discreetly sounding out donors about what they are
calling 'Continuity Labour'. Stephen is central to the plans. The
plotters have calculated that they could start a new party, debt-free,
while leaving Corbyn's rump mired in financial problems.'

Last night, Labour's largest individual donor, John Mills, who has
given more than £1.6 million to the party, said: 'I am aware of these
sorts of discussions, but I am very reluctant to get involved in the
plots and schemes. Splitting the party would be a disaster under the
first-past-the-post electoral system because it would make it harder
to win.'


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