The Federal Government is in turmoil as Prime Minister Tony Abbott faces a leadership challenge from Malcolm Turnbull.
Mr Abbott has confirmed a ballot will be held tonight for his job.
Mr Turnbull’s supporters believe he has the numbers to win and he has secured the support of Deputy Liberal Leader Julie Bishop, which is considered crucial.
Mr Turnbull quit Cabinet earlier in the day, saying he had been under sustained pressure to put his name forward.
“Ultimately, the Prime Minister has not been capable of providing the economic leadership our nation needs,” he said.
“He has not been capable of providing the economic confidence that business needs.”
Mr Abbott responded defiantly, calling a media conference to confirm he would contest the leadership ballot.
“The prime ministership of this country is not a prize or a plaything to be demanded. It should be something which is earned by a vote of the Australian people,” he said.
“I will be a candidate and I expect to win.”