Angus Taylor defeats Sussan Ley by hefty margin of 34-17 as Liberal leader

Angus Taylor has defeated Sussan Ley for Liberal leader by a hefty margin of 34-17, giving him strong authority to try to improve the fortunes of the debilitated federal opposition.

The meeting. starting at 9am and lasting under an hour,  first carried a motion to spill the leadership by 33-17, a much higher gap than had been expected. There was one informal vote.

The new deputy leader is Jane Hume, defeating Ted O'Brien - who has been shadow treasurer under Ley - by 30-20 in the final ballot. Eliminated in earlier ballots were Dan Tehan and Melissa Price.

Hume is a moderate and Taylor a conservative, so the new leadership team has gender balance as well as factional balance. Taylor and Hume, who was finance spokeswoman under Dutton, worked closely together during the last term and developed a good relationship.

Hume was left off the frontbench by Ley and became a big critic of her.

Hume reportedly told colleagues she would not seek the post of shadow treasurer, a pitch that improved her support, especially as having the deputy in the Senate had not happened since Fred Chaney in 1989-90.

There is speculation the shadow treasurer post could go to Victorian frontbencher Tim Wilson, who is currently industrial relations spokesman.

Momentum moved strongly to Taylor – who on Wednesday resigned from the frontbench to bring on the challenge – in the 24 hours before the vote. The size of the margin reflects the party’s desire to have a decisive outcome.

Ley, the federal Liberals’ first female leader, has had only nine months in the leadership but has suffered a devastating decline in the opinion polls. She is the second shortest serving Liberal leader, after Alexander Downer in 1994-95.

Ley fought to the end, running against Taylor even though she came under some pressure not to contest if the spill was carried.

Ley walked into the meeting with a group of supporters including Andrew Bragg, Andrew McLachlan, Melissa Price, Tim Wilson, Andrew Wallace, Anne Ruston, Paul Scarr, Richard Colbeck, Melissa McIntosh and Maria Kovacic.

Taylor entered parliament in 2013. He was energy minister in the Morrison government and shadow treasurer in opposition under Peter Dutton. He was shadow defence minister under Ley. He would have preferred to have delayed for a few months his challenge to Ley, but the timetable was effectively brought forward by pressure from Andrew Hastie, who wanted to challenge but found he did not have the numbers.

Labor immediately put out an attack ad against Taylor, saying he had worked from “day one” to undermine the first female Liberal leader.

Ley later announced she would quit parliament, which will mean a byelection in her regional New South Wales seat of Farrer – and early challenge for Taylor.

This story has been updated.