Updated
Shadow Treasurer Chris Bowen has abandoned his bid to lead Labor just a day after announcing his candidacy.
His decision leaves Anthony Albanese as the only confirmed candidate for the Opposition’s top job.
The ALP national executive will meet this evening to determine the process to replace outgoing leader Bill Shorten following Labor’s shock election loss at the weekend.
“I have reached the view that it would be unlikely for me to win the ballot,” Mr Bowen said.
Mr Bowen is a member of Labor’s right faction, while Mr Albanese sits in the left.
Queensland Labor right MP Jim Chalmers, the Opposition finance spokesman, said on Monday he was considering nominating for the leadership.
He confirmed, just seconds after Mr Bowen’s press conference ended, he would announce his decision tomorrow.
“I’m being encouraged to nominate for leader and I’ll now consider my options overnight,” Mr Chalmers tweeted.
After Mr Bowen announced his candidacy a string of high-profile Labor politicians from both the left and right factions offered Mr Albanese their support.
They included Penny Wong, Tony Burke, Kristina Keneally, Catherine King and Terri Butler.
Mr Bowen, 46, served as treasurer when Kevin Rudd briefly returned to the prime ministership in 2013.
He remained in the treasury portfolio when Mr Shorten took over the party in Opposition.
Mr Bowen was the architect of the contentious tax plans Labor took to the weekend’s election.
He yesterday defended the franking credits policy, arguing it would allow governments to spend more on health and education.
More to come.
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