Angus Taylor Challenges Sussan Ley for Liberal Party Leadership Amid Resignations

Angus Taylor has resigned from the shadow cabinet and declared his intention to challenge Sussan Ley for the leadership of the Liberal Party. In a video statement, Taylor stated, "Our country is in trouble. The Labor government has failed, and the Liberal Party has lost its way. I'm running to be the leader of the Liberal Party because I believe that Australia is worth fighting for."

Taylor's announcement follows a series of resignations from the shadow frontbench. Notably, James Paterson and Jonno Duniam, both senior right-wing frontbenchers and members of Ley's leadership group, have stepped down to support Taylor's leadership bid.

The Liberal Party is expected to hold a party room meeting in the coming days to address the leadership challenge. Ley's supporters, including Shadow Attorney-General Andrew Wallace, have expressed confidence in her leadership, stating, "I think Sussan has the numbers. I think that the majority of the party room believes that Sussan hasn't been given a fair go."

In related news, ANZ Group has reported a 17% increase in first-quarter cash profit, reaching A$1.94 billion. The bank attributes this growth to cost-cutting measures and a reduction in expenses.