"We will certainly be looking very keenly to see how he goes."
Mr Corbyn's election represents a shift to the left after the New Labour era of Tony Blair and Gordon Brown.
In the lead-up to the election, Mr Blair had urged party faithful against voting for Mr Corbyn, arguing the party was in the worst danger in its 100-year history, and faced possible annihilation if his advice was ignored.
"It is a bit rich for Tony Blair to say that ... it may well be that it is Tony Blair's legacy that there has been such a negative reaction to, which Jeremy Corbyn offers an alternative to," Mr Little said.
"There are plenty of people in the UK who have done it pretty tough under the austerity measures of the Cameron Government, and Corbyn has offered an alternative to that."
In the campaign, Mr Corbyn's key proposals were to apologise for Labour's role in the Iraq war, introduce quantitative easing to fund infrastructure, and the creation of a national education service.