Rachel Reeves has launched an unprecedented personal attack against Jeremy Corbyn as Labour wrestles with his surging hard-left "Your Party".
Corbyn's new bloc, co-led by ex-Labour hardliner Zarah Sultana, has so far garnered 600,000 email sign-ups - and has been tipped to oust Sir Keir Starmer from his seat.
Meanwhile, allies of the disgraced former party leader are pushing the Unite union to disaffiliate from Labour entirely after suspending Angela Rayner last month.
The Times revealed that they were confident Unite could be persuaded to bankroll the new party, which still does not have an official name, ahead of next May's second round of local elections.
But now, the Chancellor has laid into Corbyn in a blistering broadside.
"Jeremy Corbyn has had two chances to be Prime Minister and I think the country gave their verdict, most recently in 2019 when Labour had its worst result since 1935," she said.
Rachel Reeves has launched an unprecedented personal attack against Jeremy Corbyn
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"If he wants to give it another go, be my guest. I think the voters will have the same reaction," she told Iain Dale at the Edinburgh Fringe festival.
Asked whether Labour was being complacent about the new political group, she said: "It's not being complacent.
"He tried to destroy my party and he can now go set up his own party. The country has rejected him twice. The bloke's got a big ego. He can have another go but I think the country will have the same verdict."
She also revealed that her sister - and Labour chairwoman - Ellie Reeves, had received an email saying she had signed up to the party, and dismissed Corbyn's sign-up figures as a result.
LATEST ON JEREMY CORBYN:
Rachel Reeves revealed that her sister - and Labour chairwoman - Ellie (left), had received an email saying she had signed up to the party
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Opinion polls suggest that Your Party could receive 10 to 15 per cent support from a standing start, with 31 per cent of 2024 Labour voters open to switching their allegiance back to Corbyn.
While in the PM's Holborn & St Pancras seat, insiders have told GB News that a "big upset" could be on its way.
"Next time around, with a longer campaign, more resourcing and Starmer's colossal unpopularity, a big upset is more than possible," one told Britain's News Channel.
Elsewhere in her Fringe routine, the Chancellor confirmed that Reform UK was now Labour's main rival, and described the Tories as "irrelevant".
But it wasn't just Reeves taking pot-shots at former party leaders on Saturday.
Kemi Badenoch and Liz Truss also traded blows on Saturday
| PAWriting in The Telegraph, Tory chief Kemi Badenoch said: "For all their mocking of Liz Truss, Keir Starmer and Rachel Reeves have not learnt the lessons of the mini-budget and are making even bigger mistakes.
"They continue to borrow more and more, unable and unwilling to make the spending cuts needed to balance the books."
Truss then fired back, saying: "Kemi has not learned the lessons of the mini-budget, which is that when Conservative MPs fail to back tax cuts, fracking and welfare restraint, they get booted out of office.
"The Bank of England has since admitted that two thirds of the market movement in 2022 was down to their failure to regulate pensions properly.
"Kemi Badenoch needs to do the work and actually analyse what happened in 2022 and hold the Bank of England to account."