Turnbull topples Abbott to be Australia's new PM

Canberra

AUSTRALIA will have its fifth prime minister in eight years after the ruling Liberal Party on Monday voted out Tony Abbott in favour of long-time rival Malcolm Turnbull, following months of infighting and crumbling voter support.

Mr Turnbull, a multi-millionaire former tech entrepreneur, won a secret party vote by 54 to 44, Liberal Party chief whip Scott Buchholz told reporters after the meeting in Canberra.

Australia is set to hold elections before the end of next year, and Mr Turnbull, expected to be sworn in as prime minister on Tuesday, told reporters he had no intention of calling an early poll to cement his legitimacy.

"I'm very humbled by the great honour and responsibility that has been given to me today," he told reporters during a late-night press conference. "This will be a thoroughly liberal government. It will be a thoroughly liberal go…