The Liberal Party will pick a new leader next week, with Deputy Leader Sussan Ley and treasury spokesperson Angus Taylor confirming they’ll run for the job.

Taylor’s hopes of securing the position were yesterday bolstered by the defection of Senator Jacinta Price from the Nationals to the Liberal Party. Price is expected to stand as his running mate as deputy leader.

Taylor confirmed he was throwing his hat into the ring to the Australian Financial Review, saying Price was a great addition to the Liberal ranks.

Deputy Liberal leader Sussan Ley will contest the party’s leadership election next week. (Alex Ellinghausen)

“I strongly welcome a strong, capable woman in Jacinta,” Taylor said.

“We want as many people in the Liberal Party room as possible.”

Price is a senator for the Northern Territory branch and the Coalition’s shadow Indigenous Australians minister.

Ley, from the moderate wing of the Liberals, confirmed this morning she would be taking a tilt for the leader’s role.

Liberal party chiefs confirmed today they’ll be holding a party room ballot to elect a new leader next Tuesday at 10am.

Shadow treasurer Angus Taylor. (Photo by Hilary Wardhaugh/Getty Images)

The party is s looking for a new leader after Peter Dutton became the first opposition leader in Australian history to lose his own seat in last Saturday’s federal election.

Dutton was ejected from the Brisbane seat of Dickson, which he had held for 24 years, by Labor’s Ali France.

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