Angus Taylor has stepped down from his role in the Coalition’s frontbench, paving the way for a leadership contest to succeed Sussan Ley as head of the Liberal Party.

In a meeting with Ley tonight, followed by a media briefing, Taylor made his intentions clear.

“I have officially resigned from my position in the shadow cabinet,” Taylor announced.

He expressed his efforts to contribute positively to the leadership team, noting his support for Sussan Ley during challenging times that required the party’s revitalization.

“Let’s be frank: the Liberal Party is in its most precarious state since its inception in 1944. This stark reality demands our attention and action,” he stated.

“In my view, Sussan Ley is not equipped to provide the leadership the party currently requires,” Taylor concluded.

Media reports suggest Taylor’s resignation will be followed by other Liberal frontbenchers. However, other key Liberals have told 9News Taylor’s numbers for victory are not assured.

Ley, who met with Israeli President Isaac Herzog inside Parliament House earlier today, is the first woman to lead the Liberal Party after edging out Taylor in a partyroom ballot in May.

A leadership spill has been looming after a tumultuous period for the Liberals.

The Coalition split last month when three Nationals senators voted against the government’s hate groups bill and were sacked from the frontbench.

Although the parties have since come back together, there have been growing concerns that One Nation has overtaken the Liberals in opinion polls and Ley’s personal preferred prime minister polls have tanked.

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