Tony Blair could secretly help moderate Labour MPs with a plot to form a new breakaway movement after the election, it has emerged.

Former Labour donors who have withdrawn their support since Jeremy Corbyn became leader are set to approach Mr Blair’s Institute for Global Change, a centre-left think tank, for help with developing policy ideas.

But while Mr Blair has signalled his desire to return to politics, the donors do not want him to take a public role in the plot after his reputation was irreparably damaged by the Iraq War.

Yesterday The Daily Telegraph revealed that up to 100 prospective Labour MPs are preparing to resign the Labour whip and become independents after the election in an attempt to force out Jeremy Corbyn.

They are discussing the idea of forming a “Progressives” group on the back benches, before possibly returning to Labour if they manage to oust Mr Corbyn and replace him with a leader they support.