Turnbull laughs off Morrison agreement

Malcolm Turnbull has laughed off suggestions he and Scott Morrison have done a deal for prime ministerial succession.

The new Liberal leader was asked on Monday whether there is a so-called Kirribilli agreement - a reference to the 1988 deal done between Bob Hawke and his then treasurer Paul Keating.

"Scott will do a great job as treasurer and that's what we're focused on," Mr Turnbull told ABC radio.