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The two men tipped to lead Liberal Party after election rout

With Scott Morrison confirming he will resign as leader of the Liberals following his federal election defeat, one of the key questions being asked is who will step up to the plate to replace him?

Josh Frydenberg has all but conceded his race in Kooyong, where Monique Ryan, one of the triumphant band of teal independents, maintains a healthy 54 per cent lead.

The two names rising to the forefront are Peter Dutton and Angus Taylor.

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Minister for Industry, Energy and Emissions Reduction Angus Taylor during Question Time at Parliament House.

"There is certainly the possibility of a challenge from Angus Taylor," former Labor adviser Sean Kelly told Weekend Today.

"But I think Peter Dutton is head and shoulders above Taylor in that race.

"We are seeing potentially a real shift in the Liberal Party, with the loss of those moderates.

"With Peter Dutton a conservative… we could really see a shift towards the right."

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Queenslander Peter Dutton appears set to lead the Liberal Party, after Scott Morrison's crushing defeat in the 2022 federal election.

The Liberal Party is facing an important decision, Kelly said.

"Do they try and win back those seats they've lost or do they shift strategies and try to win a whole different set of seats?" he said.

"I think that will see them go further to the right."

Dutton 'the last man standing'

Kelly's take is one mirrored by Nine's political editor Chris Uhlmann, who described Dutton as "the last man standing" and a figure who will now likely take the Liberals even further to the right.

"Those people who think this is now a time where the Liberal Party will move closer to a more moderate side, they have been gutted," Uhlmann said.

"This has been a rout of the moderate wing of the Liberal Party."

Speaking in front of his supporters in Dickson last night, Dutton said the "Liberal family" had "suffered a terrible day".

He called Morrison's leadership "quite remarkable" and Frydenberg's stewardship of the economy "world-leading".

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In 2018 Peter Dutton made a failed tilt for the Liberals leadership, a battle which was won by Scott Morrison.

"There are colleagues around the country, good people, who have potentially lost their seats," Dutton said.

"I want to acknowledge the pain they're going through tonight, their families (and) their supporters."

Dutton said he was proud of the work done by Morrison, Frydenberg and the Coalition government.