"We have a wider gap between the haves and have nots in this country than any of us have known in our lifetimes and it is for the Labour Party, our party, to fight to reduce that gap".
Right-wing Labour MPs initiated the current crisis when they called for a no confidence vote against Corbyn following the Brexit vote, blaming him for the "leave" victory and for not doing enough to campaign for the "remain" camp. While Mr Smith and Ms Eagle were applauded every time they spoke, Mr Corbyn was heard in stoney silence - a sharp contrast to the rousing cheers he invariably gets when addressing left wing crowds outside Parliament.
She said there should be no legal challenge to the NEC's decision but warned that Labour risks electoral wipeout in the north at the hands of Ukip, similar to that it has suffered in Scotland if Mr Corbyn remains leader. "I'm pro prosperity, I am pro standing up for working people".
"I think it's an important way in which we can reconnect our party", he said.
Ms Eagle borrowed Theresa May's famous 2002 description of the Conservatives as she called for action from the Labour leadership on "abuse, misogyny, homophobia (and) anti-Semitism" affecting the party.
We also know that despite this being such a wonderful city, with no end of opportunities, many people feel locked out due to poverty, as the Standard's Dispossessed campaign showed.I'm proud to have led the Labour campaign that forced the Tories into U-turns over plans to cut tax credits and support for the disabled.
MP Chris Bryant, who is supporting Mr Smith, admitted it was a blow to either of their chances of beating Mr Corbyn.
The Labour Party is riven by division, with most MPs refusing to serve Mr Corbyn in his shadow cabinet and the party starting its second leadership election in just a year.
Labour leadership contender Owen Smith today said it would be "tempting" not to take the United Kingdom out of the European Union if he became Prime Minister.
Anger at Mr Corbyn's leadership was evident in the Commons as MPs voted to renew the Trident nuclear deterrent system, with Labour splitting three ways. So a key part of my British New Deal would be major investment to get the country building. "Let us get behind him, and walk tall in solidarity.".
"But I don't think it would help to have an artificial battle between the two of them when they agree about so much".
Although 80% of the Parliamentary Labour Party (PLP) want Corbyn out, hundreds of thousands of mostly newer Labour members voted for him last time around and may well do so again.
It was reported earlier this week that Labour's National Executive Committee has decided that members who joined after January 12 this year will not automatically be eligible to vote in the leadership election.
The Welsh MP says he has the support of 100 Labour MPs, while his rival Angela Eagle is now understood to have fewer than 50 backers.