A new left-wing British party was officially launched at its inaugural conference on Sunday.

The party, formally known as Your Party, aims to establish itself as a new force on the left and a political home for disaffected Labour supporters.

A party spokesperson said on its official X account: "Your Party will be our permanent name. This choice reflects what we're all about: a radically democratic party breaking with the top-down Westminster mould."

Former Labour leader Jeremy Corbyn launched the party alongside left-wing politician Zarah Sultana. Delegates at the conference voted to adopt a collective leadership structure rather than appoint an elected leader.

Around 2,500 members were selected to attend the event, out of a total membership the party says has now reached 50,000.

Labour and the Conservative Parties have long dominated Britain's political landscape, but recent opinion polls show both parties trailing well behind Nigel Farage's Reform UK.

Analysts say the emergence of the new left-wing party has been driven by growing discontent among traditional left-wing voters.

"The current Labour Party is experiencing a major crisis. It would seem that there is a very limited chance that they will be re-elected when their current term in government concludes in 2029," said John Bryson, professor at the University of Birmingham, in an interview with Xinhua.

He said Your Party must find a political position between Labour and Reform. "This new party might divide the Labour vote, and the outcome could be that the next UK government is led by Reform or by the Conservative Party."

"Ultimately, Your Party does not have the local political architecture in place to support electioneering and thus sits between the established Labour Party and the established Reform Party," Bryson added. "This is a very difficult place to occupy, and the expectation is that the Corbyn and Sultana venture will be a failed experiment in creating a party that leans towards the extreme radical left."

Corbyn has been the Member of Parliament (MP) for Islington North since 1983. Suspended from Labour, he now sits as an independent. He served as Leader of the Opposition and Labour leader from 2015 to 2020.

Sultana has been MP for Coventry South since 2019. She remained a Labour member until her suspension in July 2024. She now sits in the House of Commons as a Your Party MP, according to the UK Parliament website.

A poll last week by YouGov found that 12 percent of British voters would consider voting for Your Party, down from 18 percent in July. When news of the proposed new party first surfaced in the summer, 800,000 people expressed interest.

The real test for Your Party will come when it fields candidates in local and national elections, said Bryson.