4 Corners - Decimated - The Fight to Save the Liberal Party.

Don't miss it tonight - NB NOT on the Comedy Channel

For tonight’s Four Corners I’ve spent the last few weeks speaking with key figures inside and outside of the parliamentary Liberal party to establish what went so wrong. The party claimed it was on course to win a swag of seats in Labor's heartland — only to be decimated in its own seats across the country.

Inside the Liberal Party there is a deep split on the direction the party should take to regain seats across the country and win over middle Australia.

Moderates argue the party has an existential problem because it doesn't adequately represent women, ethnic communities and young people and has leant too far to the right on issues it argues don’t resonate with mainstream Australia.

But some on the party's right are contesting this idea that they must return to the "sensible centre" believing their loss is a consequence of a terrible campaign and a lack of clarity on its values.

For the Liberals I’ve spoken to this is about more than just one election — it’s existential.

Can the party of Menzies and Howard ever get back into government? What does the party stand for? And can they agree on a way forward?

As one senior MP tells me, if they can’t get their act together there’s no reason to think things won’t get even worse.

Don’t miss this Four Corners.