Statement comes as Turnbull defends his threat to use eligibility question to thwart Dutton’s prime ministerial ambitions

Peter Dutton has revealed that he renounced a financial interest that could have seen him disqualified from parliament before the May election, as he fends off calls for his eligibility to be tested in the high court.

The decision by the home affairs minister to rid himself of the financial interest comes amid fresh revelations about how Malcolm Turnbull threatened to use the constitutional cloud hanging over Dutton to thwart his bid to become prime minister.