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Amy Adams will retire from politics at the 2020 election, she announced today.
It is a shock announcement, as Adams ran for the party leadership in February last year following Bill English's resignation.
She came second in that contest, and then became the finance spokeswoman under Simon Bridges' leadership.
"Making the decision to step away from politics has not been an easy one but it is the right time for me and my family and I'm looking forward to whatever the future holds," Adams said in a statement.
Adams, the MP for Selwyn, said she would stand down from her roles finance spokeswoman and the Shadow Attorney General.
"I have been incredibly privileged to serve as the MP for Selwyn and a member of the National Party Caucus for almost 12 years.
"I have every confidence in the National Party under Simon Bridges leadership and their prospects for the 2020 election. My decision is purely about what is right for me and the life I want to lead going forward.
"I've chosen to make this announcement now as given the seniority of the positions I hold in the caucus I felt that it was important new people have time to establish themselves in those roles as we head towards 2020."
National's spokesman for economic development Paul Goldsmith would be a front-runner to take over National's finance role.
Adams was considered a strong Minister under the leadership of English and John Key, holding a variety of portfolios at various times including justice, communications, broadcasting, courts, internal affairs, and the environment.
Meanwhile Adams' National colleague Alastair Scott also announced today that he would step down and not contest the 2020 election.
Scott has been the MP for Wairarapa for six years.