Jeremy Corbyn, 66, an MP for 32 years, is the fifth to join the race, currently led by Shadow Health Secretary Andy Burnham.

He blasted his rivals for being too similar and wanted to offer the Labour Party a left-wing alternative.

The MP for Islington North, who is a fan of anti-austerity, said: “They are not offering a clear enough alternative on the economic strategy and austerity, and our attitude to welfare expenditure.

“We think the left members of the party need to have a chance of a debate.”

As well as favourite Mr Burnham, Mr Corbyn joins Yvette Coooper, Liz Kendall and Mary Creagh in the battle.

Unlike his rivals, he openly backs the doomed election performance of former leader Mr Miliband.

Mr Corbyn said: “I think in the campaign Ed Miliband did really well, particularly his emphasis on zero-hours contract and minimum wage."