New Liberal leader Tony Abbott says he is not frightened of a federal election and stands firm on ETS issue

News.com.au | "I am not frightened of an election on this issue," Mr Abbott said. "This is going to be a tough fight but it will be a fight. You cannot win an election without a fight.

"I can promise a contest ... I know my colleagues are gearing up for the fight of their lives.

"I do feel humbled and daunted about what's ahead, but I also feel proud and exhilarated at the prospect of leading this great political party into the next election."

Liberal Leadership Spill: Tony Abbott Wins

News.com.au | TONY Abbott has rolled Malcolm Turnbull to take over the Liberal leadership in a spill forced by deep divisions on the Opposition's climate change policy.

Mr Abbott, Mr Turnbull and Joe Hockey contested a three-way spill at a special partyroom meeting in Parliament this morning.  Mr Abbott won by a single vote, 42-41.

Everyone had expected Mr Hockey to win in a landslide, but he was eliminated in the first round of voting.  That sent Mr Abbott and Mr Turnbull into a head-to-head vote for the leadership.

Hockey twist on ETS legislation an issue in Turnbull leadership ballot

News.com.au | MALCOLM Turnbull says he can beat challenges from Joe Hockey and Tony Abbott to keep his Liberal leadership as a new twist emerges over Mr Hockey's tactics.

Last night, the Liberal leadership crisis deepened with Tony Abbott declaring he would go head-to-head against Joe Hockey and Malcolm Turnbull to win control of the party.

Mr Abbott dropped the bombshell after learning Mr Hockey wanted a conscience vote on the controversial Emissions Trading Scheme that would see it passed.

Liberal MPs supportive of Mr Turnbull have said today that Mr Hockey's move will guarantee the ETS legislation passes the Senate because, if Mr Hockey wins the leadership, enough Liberal senators will vote for the Bill.

Abbott wins toughest job in town

Piers Akerman | Abbott and Turnbull stood for something, unlike Hockey who had nothing coherent to offer. Hockey has more to offer women’s television than politics.

That Abbott then defeated Turnbull shows that he has some major hurdles to clear before he can front a united party. A tough job but he matured in politics and may be able to rise to this challenge.

During his press conference, Abbott said he’s not frightened of fighting an election on the ETS and he pointed out it is just a giant new tax designed to be run by a vast new bureaucracy.