While the discussions are in their early stages, several figures in Mr Corbyn’s inner circle are said to be concerned that setting up a new party could remove enough MPs from Labour that it would dent Sir Keir Starmer’s prospects of winning the next election.
John McDonnell and Diane Abbott, two of the former leader’s closest allies, are said not to be interested in defecting.
The Telegraph has also been told Mr Corbyn plans to use the next 12 months to increase the activities of the Peace and Justice Project, with a tour of the UK to meet voters and campaign on his favourite political issues, such as worker’s rights, human rights and nuclear disarmament. He is also in talks to write a book.
Launching the charity in December last year, Mr Corbyn said it would focus on promoting the causes he has spent his parliamentary career campaigning for.
It is also seen by allies of Mr Corbyn as a means of keeping thousands of left-wing activists, who joined Labour under his leadership, engaged in politics.
