A new hybrid stress finite element algorithm, based on a generalization of Fraeijs de Veubeke's complementary energy principle is presented. Analyses of large quasistatic deformation of inelastic solids (hypoelastic, plastic, viscoplastic) are within its capability. Principal variables in the formulation are the nominal stress rate and spin. A brief account is given of the boundary value problem in these variables, and the 'equivalent' variational principle. The finite element equation, along with initial positions and stresses, comprise an initial value problem. Factors affecting the choice of time integration schemes are discussed. Results found by application of the new algorithm are compared to those obtained by a velocity based finite element algorithm.