"Not by me anyway".
The former work and pensions secretary also said it was "completely anomalous" and "not progressive" for capital gains tax to be set at 20% when the higher rate of income tax was 45%. "As a Labour party we need a strategy to show how we are going to revive areas that have been neglected by the Tories". There have been issues about how people can get in the room.
He said: "Jeremy has been right about so many things". While it is unclear what impact that will have on Corbyn, bookmakers seem to think the whole situation is increasingly good for Smith - though it seems Angela Eagle now has no chance at the leadership.
The move is aimed at "left behind" communities which voted to leave the European Union and who feel they have been forgotten by successive governments, according to Labour.
Owen Smith says he is the "standard bearer" for a new generation of Labour supporter as he looks on course to be the one to challenge Jeremy Corbyn in a two-horse race.
But Mr Smith, a former journalist and Pfizer lobbyist, claims to have the support of up to 100 MPs already, with nominations closing on Wednesday afternoon.
It was a slip up on a day when Mr Smith's backers had hoped he would be able to induce Ms Eagle to withdraw from the contest giving him a clear run against the incumbent Labour leader. My total focus is on doing all I can to help to save the Labour Party as a credible, appealing national force'.
"I think it's an important way in which we can reconnect our party", he said.
"We trusted people, rightly, to take the decision. We trusted people to take the decision, we can trust them again in 18 months' time to check if it was absolutely what they wanted".
Jeremy Corbyn calls for Labour NEC to reverse member voting rules
Mr Smith said "words are not enough" as he pledged to create a £200 billion "British New Deal" infrastructure investment plan.
Meanwhile, in her pitch for the Labour leadership Ms Eagle said she was a "working-class woman" from the North, "and that's what we need at the moment".
"I've wiped the floor with George Osborne at Prime Ministers Questions and I'm an experienced Government minister, as well as in opposition". We have to stamp it out.
Labour's ruling national executive imposed a back-dated voting ban on members who joined after January 12.
While many of his shadow cabinet members resigned and abandoned him, grassroots supporters have continued their support for Corbyn.
There is mounting speculation that Labour could split if Mr Corbyn clings on to power despite having been abandoned by most of his MPs.
He suggested that the candidate with fewer nominations from Labour MPs should stand aside for the other, but Ms Eagle argued that they had to consider who was best placed to win over the membership.
He has indicated that he would withdraw from the contest if Ms Eagle won more support among Labour MPs.