National Party MP Simon Bridges is quitting politics and will step down as an MP in the next few weeks.
Bridges announced his decision after telling fellow MPs in caucus this morning.
In an exclusive interview with The New Zealand Herald ahead of that announcement, he said he made his final decision over the last week after thinking about it for some time.
It was the right time to look at other opportunities for him.
It is the first big surprise for new leader Christopher Luxon less than four months after he took over as leader, giving Bridges the third ranking in his caucus and the critical finance portfolio.
Bridges said it was not because of his failed attempt to secure the party leadership again last year, and he believed the party stood a good chance of winning the election in 2023 under Luxon's leadership.
"Life moves on. I leave National in great heart and with momentum for the first time in a while. I think Chris Luxon will make a great Prime Minister."
He had told Luxon of his decision "recently."
"With matters of the heart like this it's best to keep them quiet until you are absolutely certain about what you are doing. But we have had a number of discussions and it's fair to say I don't Chris will have been entirely surprised."
He said there was no scandal involved in his decision. He would be exploring commercial opportunities "and maybe a media project or two".
"But first and foremost I'm a husband to Natalie, I'm a dad to Emlyn, Harry and Jemima and this week my oldest two turn 10 and 8. I am 45 years old and after 14 years in Parliament, I can give the best of me to them."
He had been considering his future and talking to his family for a while.
"They are not decisions you make overnight.
"It's been a great privilege being MP for Tauranga, a senior minister and Leader of the Opposition. I've had so many highlights. But it's time. It's a good time for National, for the first time in a long time National has got real momentum and I'm really proud to have played a significant role in getting it back in the hunt for election 2023."
His decision will come as a blow to Luxon, who now has to fill the crucial finance portfolio and loses Bridges' political experience.

Asked he believed other former leaders in the caucus – Judith Collins and Todd Muller - should follow his lead to give Luxon clear air, he said "not necessarily."
"My decision isn't really about National, it's about me, my family and the future."
Tauranga byelection
Bridges' departure will spark a byelection in the Tauranga electorate, a safe National seat where he has been MP since 2008. He would talk to Speaker Trevor Mallard about the timing of his departure, but it would be "in coming weeks."
"I've loved it all from things like helping a couple with surrogacy issues and watching their child grow through to the big stuff, being the first minister for Space, roads, bridges, trains you name it."
Luxon thanked Bridges for his "immense contribution to building a better New Zealand".
"Simon has been an absolute champion for Tauranga, for New Zealanders and for the National Party over his 14-year career in Parliament. He was an excellent local MP, Minister, Leader of the National Party and colleague.
"As Transport Minister, Simon relentlessly pushed for upgrades to core infrastructure to drive productivity and help Kiwis get from A to B faster and safer. New Zealanders have Simon to thank for many of our improved state highways, which will be part of his lasting legacy."
Most recently as Opposition finance spokesman, Luxon said he had been "holding Labour to account for a cost of living crisis that is taking Kiwis backwards".
"Most importantly for me, since I became Leader Simon has been a trusted advisor and confidant. I am going to personally miss his contribution to the National Party caucus.
"I want to pay tribute to Simon's relentless efforts to make New Zealand a better place – and also thank Natalie, Emlyn, Harry and Jemima for letting their husband and dad spend so much time away from home to help achieve that goal.
"Simon, go well. I wish you the very best."
Luxon said he would announce National's new Finance spokesperson in coming days. The process to select a candidate to stand for National in the Tauranga by-election will begin in the coming weeks.
Bridges first became a minister under then PM Sir John Key in 2014, serving stints as Minister of Transport, Economic Development and Communications.
Bridges was leader of the National Party from February 2018 until May 2020, when Todd Muller rolled him.
He was chosen to replace Sir Bill English after National went into Opposition. Bridges managed to keep his party's polling in the 40s against the new Labour – NZ First government until Covid-19 came along in 2019.
Bridges' prosecution of the Government's response to Covid-19 came in for criticism and his personal popularity plummeted as well as National's support, triggering the challenge by Muller and Nikki Kaye.
It sparked a dire time for the National Party. Muller stepped down after 53 days on mental health grounds and Judith Collins became the leader, taking the party to an election result of just 25.6 per cent.
The party was then wracked by in-fighting and speculation Bridges was about to challenge Collins as leader rose. In late November last year, Collins sealed her own fate by trying to demote Bridges over an off-colour remark he had made to fellow MP Jacqui Dean several years ago - a move that saw caucus move a no-confidence vote in her.
Bridges then announced he would contest the leadership, but ceded to Luxon on the day of the vote after realising he did not have the numbers to win.