The announcement will begin a month-long process during which all Labor party members will vote for their Federal leader for the first time in the party’s history.
Albanese will run against Bill Shorten who announced his candidacy earlier in the week.
Other possible candidates including Tanya Plibersek and Tony Burke now look unlikely to declare their intention to run.
Meaning it will be a straight shoot-out between, Shorten, from the Right of the Party and Albanese a left winger with strong grass roots support.
Although Shorten’s close ties to the unions look set to make this a close race.
However history is on the side of neither man, with no party leader elected following an election defeat having ever gone on to become prime minister.
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