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Peter Dutton is favourite to lead the Liberal Party, it is believed, after party moderates were gutted in an election rout.

PM Scott Morrison has confirmed he will soon resign as leader of the Liberals, while Josh Frydenberg has all but conceded his race in Kooyong, losing to one of the triumphant band of teal independents.

With just over 65 per cent of the vote counted in the Queensland seat of Dickson, Dutton holds a slim six-point lead over Labor’s Ali France.

Queenslander Peter Dutton appears set to lead the Liberal Party, after Scott Morrison's crushing defeat in the 2022 federal election.
Queenslander Peter Dutton appears set to lead the Liberal Party, after Scott Morrison’s crushing defeat in the 2022 federal election. (Nine)

Nine’s political editor Chris Uhlmann described Dutton as “the last man standing” and a figure who will now likely take the Liberals even further to the right.

“Those people who think this is now a time where the Liberal Party will move closer to a more moderate side, they have been gutted,” Uhlmann said.

“This has been a rout of the moderate wing of the Liberal Party.”

Speaking in front of his supporters in Dickson tonight, Dutton said the “Liberal family” had “suffered a terrible day”.

He called Morrison’s leadership “quite remarkable” and Frydenberg’s stewardship of the economy “world-leading”.

“There are colleagues around the country, good people, who have potentially lost their seats,” Dutton said.

“I want to acknowledge the pain they’re going through tonight, their families (and) their supporters.”

In 2018 Peter Dutton made a failed tilt for the Liberals leadership, a battle which was won by Scott Morrison.
In 2018 Peter Dutton made a failed tilt for the Liberals leadership, a battle which was won by Scott Morrison. (Alex Ellinghausen)

Dutton said he was proud of the work done by Morrison, Frydenberg and the Coalition government.

In his concession speech, Morrison confirmed he would step down as leader at the next party room meeting.

He called it “the appropriate thing to do”.

Labor’s Anthony Albanese will now become the 31st Prime Minister of Australia.

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