No one tipped this: Tony Abbott has won the leadership the Liberal Party, pipping Malcolm Turnbull 42-41.

Joe Hockey, the man who failed to provide a conclusive position on the Rudd emissions trading scheme, was dumped in the first round of voting. Julie Bishop remains as deputy leader.

No statements yet from any of the main protagonists — we’ll update this post as soon as anyone speaks.

Abbott will implement the Minchin line and reject the Rudd ETS in the Senate. There are many possibilities from there. A Liberal Party obviously on a knife edge, the Senate to provide the government with the possibility of a double dissolution trigger.

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The only certainty here is that the result resolves little.

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