Bill Shorten has confirmed his candidacy for the federal Labor leadership in Australia, declaring the party can win the next election and has a mandate to protect the carbon price.
He says the party cannot afford to "bide its time" in opposition and allow the incoming Coalition government to "tear down" Labor's accomplishments of the past six years.
The ABC reports Mr Shorten, the former education minister, has indicated that if successful, his deputy would be Tanya Plibersek.
It is unclear at this stage whether Mr Shorten will be challenged for the position by former deputy prime minister Anthony Albanese.
It is understood Mr Albanese will tell his colleagues at Caucus on Friday whether or not he will contest the leadership.
If there is more than one candidate, the leadership will be decided through a ballot process involving parliamentary members as well as grassroots Labor members.