Peter Dutton has failed to rule out a second attempt at seizing the Liberal leadership and instead outlined his alternative policy manifesto following his unsuccessful challenge to Prime Minister Malcolm Turnbull on Tuesday.

Name-checking former prime minister John Howard as his mentor, Mr Dutton said the Coalition could win the next election "if we get the policies and the message right". That required lowering electricity prices, changing the immigration program "until infrastructure can catch up" and investing more in health, education, aged care and drought relief.

Mr Dutton, who lost the leadership ballot 35 votes to 48 on Tuesday morning, said he harboured "no animosity" toward Mr Turnbull but felt he was the best person to lead the Coalition to the election. Repeatedly asked by journalists whether he would rule out a second leadership tilt, Mr Dutton did not do so.