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BREAKING: Malcolm Turnbull confirms leadership challenge for PM

We need a style of leadership that respects people's intelligence... We need advocacy, not slogans.

Malcolm Turnbull has announced he will challenge Prime Minister Tony Abbott for the Liberal leadership in a ballot due to occur early tomorrow morning.

In a press conference on Monday afternoon the communications minister who earlier today resigned from cabinet made his intentions very clear.

“A little while ago I met with the prime minister and advised him that I would be challenging him for the leadership of the Liberal Party,” Mr Turnbull said.

“This is not a decision that anyone could take lightly.”

It appears the Mr Turnbull, the member for Sydney’s Wentworth, has the blessing from deputy Liberal leader Julie Bishop and didn’t mince his words while making his announcement.

“It is clear that the government is not providing the economic leadership the country needs,” said Mr Turnbull.

Adding: “We need a style of leadership that explains the complex challenges.

“We need a style of leadership that respects people’s intelligence.

“We need advocacy, not slogans.”

As if blindsided by the news Mr Abbott just hour earlier quashed leadership speculation during a media event in South Australia.

“I just am not going to get caught up in Canberra gossip, I’m not going to play Canberra games,” he told reporters.

“I know that sometimes the media particularly like to play the Canberra game, but I’m not going to get involved with it.

“I’m just not going to chase all of these rabbits down all of the burrows that you are inviting me to go down, I’m just not going to play the Canberra games.”

Turnbull has confessed that an impeding spill is less than ideal before the Canning byelection this weekend but is confident a government under new leadership will fare better at any upcoming ballot.

WATCH: Clive Palmers message for Abbott.

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