There were only two candidates in the election, with John Smith always the clear favourite to win. The ballot took place on 18 July 1992. Affiliated organisations had 40% of the vote, while Constituency Labour Parties and the Parliamentary Labour Party had 30% each in the electoral college. Gordon Brown and Robin Cook were both seen as potential candidates, but didn't stand.
John Smith was elected leader of the Labour Party with a clear majority.
Shortly after Black Wednesday in September 1992, Labour's lead in the opinion polls began to rise. During his time as party leader, Smith was widely predicted to become prime minister at the next general election.