Morning Mail: Taylor sets up Liberal spill, millionaires call for higher taxes, Australia’s skiing hope slips up

Angus Taylor after announcing his resignation from the frontbench. Photograph: Mick Tsikas/AAP

Morning everyone. Is the Liberal party in its worst position since its formation in 1944? Angus Taylor made this assessment to justify resigning from the shadow cabinet last night, and starting what everyone expects to be a challenge to Sussan Ley’s leadership today or tomorrow.

We also have analysis from Queensland of how the LNP’s revival is threatened by the rise of One Nation, mega-rich Australians say mega-rich Australians should be taxed more, and how Australia’s red-hot Winter Olympic hope slipped up.