New Liberal leader Malcolm Turnbull has accused Kevin Rudd of being a phoney and declared he would beat the PM at the next election.

Just days after he seized the leadership, big business and votes appear to have swung behind him.

First opinion polls are expected to show a bounce back to the Liberals and insiders say the party has received “sizeable” donations.

A confident Mr Turnbull declared to the Herald Sun: “We are determined to make this a one-term Government.

“We have a lot of work to do, but we can win,” he said.

“I believe we will win.”

Mr Turnbull promised “leadership, energy, action”.

He also lashed out at Mr Rudd, who is off on another overseas trip to New York on Monday.

Mr Turnbull accused Mr Rudd of “complete phoneyness” after the Prime Minister refused to accept his call for a bipartisan approach to the economic crisis.

He said the PM had promised “so much, done so little” since winning the election.

“The great problem with Kevin Rudd’s prime ministership is the emptiness – the gap between the rhetoric and reality,” he said.

Mr Turnbull said business had reacted well to his elevation.

“Good money is coming in or has been promised,” a source said.

“The big end of town is responding very positively.”

Elevated on Tuesday, Mr Turnbull will spend the weekend finalising a new front bench. A number of shadow ministers who served under Brendan Nelson will be dropped.

Deputy Julie Bishop is assured of the treasury, but other frontbenchers – including Andrew Robb, Tony Abbott and Peter Dutton – have also been lobbying for the job.