Chancellor Rachel Reeves said in an exclusive interview with the BBC that any Labour leadership contest would "plunge the country into chaos".
It comes as Angela Rayner, seen as a potential challenger to PM Keir Starmer, was cleared by HMRC of wrongdoing over her tax affairs after settling £40,000 in unpaid stamp duty, saying she had been "exonerated" of the accusation she had "deliberately sought to avoid tax".
On Wednesday, allies of Health Secretary Wes Streeting said they expected him to launch a challenge as soon as today.
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