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Australian Prime Minister Tony Abbott will be challenged for leadership of the Liberal Party, the senior partner in the ruling conservative coalition, after Communications Minister Malcolm Turnbull asked him to step aside.

Turnbull on Monday said he informed Abbott he would challenge him for the leadership after losing confidence in his management of the economy.

"The prime minister has not been capable of providing the economic leadership our nation needs. He has not been capable of providing the economic confidence that business needs," Turnbull told reporters in Canberra.

Turnbull might not be the only candidate to replace Abbott. Foreign Minister Julie Bishop, the Liberal Party deputy leader, is regarded as a possible contender, as is Social Services Minister Scott Morrison.

Nick Economou, a Monash University political scientist, was not prepared to predict an outcome.

"The Liberals have done enormous damage to themselves, regardless of the outcome," Economou said. "I find it hard to believe that someone would move on the leadership unless they were absolutely confident of their numbers."

Volatile federal politics

The possible leadership vote continues an extraordinarily volatile period in Australian federal politics, especially as the Liberals were elected in 2013 as a stable alternative to the then Labor government.

Labor came to power under Kevin Rudd at the 2007 elections, only to dump him in the face of poor opinion polling for his deputy Julia Gillard in 2010, months ahead of elections.

The bitterly divided and chaotic government then dumped Gillard for Rudd just months before the 2013 election.

Before Rudd was elected in 2007, John Howard was in power for almost 12 years.

The government has trailed the opposition in a range of opinion polls since April last year.


Australia's Abbott faces leadership challenge


Abbott survived a leadership challenge from within his party in February that was prompted by those polls and what some say were questionable judgements he made. 

At the time, Abbott asked his colleagues to give him six months to improve his government's popularity.

That deadline passed without the government regaining a lead over the opposition in the polls. General elections are due around September next year.

Turnbull, a 60-year-old former lawyer and merchant banker known for his moderate views, has long been considered Abbott's chief rival.

Turnbull was opposition leader for two years before he lost a party-room ballot by a single vote to Abbott in 2009. His downfall was his belief that Australia should make polluters pay for their greenhouse gas emissions.

Opinion polls show that Turnbull is more popular than Abbott, but many of those who prefer him vote for the centre-left Labor Party.

Source: AP And Reuters