Scott Morrison wins Liberal leadership contest and will replace Malcolm Turnbull as Prime Minister

FEDERAL Treasurer Scott Morrison has defeated Peter Dutton and Julie Bishop in this afternoon’s leadership contest of the Liberal Party and will become the new Prime Minister of Australia, replacing Malcolm Turnbull.

Mr Morrison defeated Mr Dutton 45 votes to 40, after Ms Bishop was eliminated in the first round of voting.

Josh Frydenberg has been elected deputy leader of the Liberal Party “in an overwhelming sense”, according to government whip Nola Marino.

More as this story updates.