Deputy Liberal leader Sussan Ley and Shadow Treasurer Angus Taylor have both formally announced their intention to contest the Liberal party leadership.
The party is looking for a new leader after Peter Dutton lost his seat of Dickson at last Saturday’s federal election. While other candidates may yet emerge in the leadership contest, both Ley and Taylor have now confirmed their running.
The contest is seen not just as who will be the next leader of the party, but maybe also an indication of what direction the party might head in the future. Ley is from the party’s moderate faction, while Taylor is a conservative.

Western Australian MP Andrew Hastie has ruled out a run for the leadership, but other names have also been suggested as potential candidate for the leadership or deputy positions.
Victorian MP Dan Tehan has been mentioned, while colleague Tim Wilson who has been re-elected in Goldstein after a term out of the parliament.
This week Senator Jacinta Price defected from the Nationals, and the Country Liberal Party to join the Liberals. She’s been touted as a potential Deputy Leader to Taylor, and some Sky News presenters have even been suggesting she could take the top job, despite not being in the lower house.
The party room will meet on Tuesday to vote, and both camps will be spending the weekend working the phones to sure up enough supporters.