Ed Balls has told Peston on Sunday that Angela Eagle's leadership bid is "essential" as Jeremy Corbyn "can't do the job".
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The former shadow chancellor said no one believed Corbyn could ever become prime minister.
"Frankly there is no message at all coming from Labour in the last two weeks about what the solutions to these big problems are," he told Robert Peston.
"There's got to be a change. It's not just necessary for Labour, I think it's necessary for the whole country.
"We need a strong opposition which believes it can form the next government and I'm afraid nobody thinks Jeremy Corbyn is going to be the prime minister of our country."
We know that the Brexit vote has some caused instability in the UK and global economy.
But what could it all mean for the North West property market?
Before the referendum, one of the scary figures issued by the Treasury was that house prices in our region would fall 18 per cent in the next two years.
Our correspondent Matt O'Donoghue went to find the story behind the stats:
The Chief Minister of the Isle of Man, Allan Bell, is fighting to retain their EU links despite the Brexit decision.Read the full story ›
This is the heartbreaking moment a German woman who lives in Chester phoned LBC's James O'Brian's show to talk about the abuse she received since last Friday's Brexit vote on the EU Referendum.
From having dog dirt thrown at her door to friends and neighbours telling her they don't want to see her again, Karen gave a harrowing account of how she now feels unwelcome in the country where she made her home.
I haven't been out of the house for three days.
My neighbours told me they don't want me living in this road.
My friend's grandson got beaten up because he had a foreign grandmother.
I'm so scared, I don't know what's going to happen next.
Credit: James O'Brian, LBC
Boris Johnson said "Project Fear is over" after the Chancellor George Osborne said an emergency budget was unlikely to happen until David Cameron's successor takes over in the autumn.
The leading Leave campaigner welcomed Mr Osborne's statement on Monday morning that the UK economy was "about as strong as it could be", as the chancellor tried to calm fears in the markets about the economy post Brexit.
"It is clear now that Project Fear is over, there is not going to be an emergency budget, people's pensions are safe, the pound is stable, the markets are stable, I think that's all very good," Mr Johnson told reporters as he left his London home.
The former Mayor of London also said EU citizens currently living in the UK and British expats living on the continent "have their rights protected", as he sought to clear up "confusion" over their "status".
Appointments confirmed by Labour leader Jeremy Corbyn in his reshuffle today included Rebecca Long-Bailey, MP for Salford and Eccles, as Chief Secretary to the Treasury.
Cat Smith, MP for Lancaster & Fleetwood is the new shadow voter engagement and youth affairs minister
Liberal Democrat Leader Tim Farron says he will fight the next general election on a pledge to keep Britain in the EU.
The Westmorland and Lonsdale MP says it gives people a chance to vote for a party that will "undo the chaos Britain finds itself in."
Fifty six per cent of people in Cumbria voted to leave the EU in Thursday's vote.
Labour has descended into crisis as several high-profile members of the shadow cabinet have quit in the past few hours. Here's who they are.Read the full story ›
Shadow home secretary Andy Burnham has said he will not be taking part in a "coup" against Labour leader Jeremy Corbyn.
"At an uncertain time like this for our country, I cannot see how it makes sense for the Opposition to plunge itself into a civil war," he said.