The Latest Breaking News from Andrew Hastie

Opposition Leader Angus Taylor has appointed Tim Wilson, the only Liberal to win back a “teal” seat last year, to go head-to-head as shadow treasurer against the Treasurer, Jim Chalmers.

Liberal leader also promotes Jacinta Nampijinpa Price and Andrew Hastie to shadow cabinet

Leadership aspirant Angus Taylor resigned from the shadow cabinet on Wednesday night, but when the Liberal Party will vote on the leadership remained up in the air.

A South Australian Fox & Hedgehog state poll has the Liberals facing a possible wipe-out in the lower house, losing seats to Labor and One Nation. One Nation continues to surge in a federal YouGov poll, and Newspoll has respondent preferences for a Labor vs One Nation contest.

Angus Taylor is expected to run for the Liberal Party's top job despite warnings it would amount to a "political assassination" of its first female leader.

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Opposition leader Sussan Ley has taken another big polling hit, as defence spokesman Angus Taylor scrambles to get the numbers for a tilt at her position.

Key supporters of Sussan Ley don't expect a challenge to her leadership in the near term, but one rival has yet to break cover with his plans.

Economic policy has been nominated as the only way for the Liberals to arrest their plunging fortunes, as the party squabbles over a leadership spill.