Josh Frydenberg Concedes Defeat In The Inner-Melbourne Seat Of Kooyong

Outgoing Liberal deputy Josh Frydenberg has formally conceded defeat in his seat of Kooyong to independent challenger Monique Ryan.

“Today I rang Dr Monique Ryan to congratulate her on the election result in Kooyong and wished her well for the term ahead,” Frydenberg said in a statement, posted to Twitter on Monday afternoon.

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The former treasurer said it has been a "privilege" to serve the inner-Melbourne electorate for the past 12 years and thanked the local community for "their support and friendship".

“I now look forward to spending more time with my beautiful family,” he said.

Once considered as the future Liberal leader, Frydenberg had withheld a formal concession until today, under the notion that it was still “mathematically” possible for him to retain Kooyong as postal votes came in.

“Every day I have given the job my all,” he said in his statement.

Ryan tweeted she had “’just received a call from Mr Frydenberg” and that she would “be making a media statement shortly.”

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