ACT MP Damien Smith says he will not stand for Parliament again in the 2023 election, announcing his decision a few days before the Act Party board meets to set Act’s list rankings.

Smith is so far the only current Act MP to rule out standing again.

He will leave after just one term in Parliament - he came in on Act’s strong 2020 result after Act reaped the rewards of National’s drop in support.

On Sunday, the Act Party board is due to meet to set the party’s list rankings for the next election. Smith was 10th on the 2020 list - the bottom-ranked of those to get into Parliament.

In a statement, Smith did not give a reason for his decision, but said he was grateful to those who had provided him with support and mentorship in his term as an MP.

“I’m lucky to have been a part of such a high-performing group of MPs who all truly want a better future for New Zealand.

“My goal has always been to inject a pragmatic business perspective into ACT’s aspirations for a growing economy, and I believe a strong ACT presence in Government is the best chance New Zealand has for real change.”

Seymour said Smith was a valued member of caucus.

 “He came to politics from a successful banking career in multiple countries and has used that expertise in Parliament, particularly with his Member’s Bill to liberalise our overseas investment laws and to bring about common-sense changes to the CCCFA.

“His distinctly Irish cheer and optimism will be missed, and the ACT caucus wishes him all the best for the future.”

ACT President Henry Lynch said the party was pleased with the way Smith and the rest of the 2020 intake had performed.

“While it’s a shame to see Damien move on, we’re optimistic about the new talent the Party has attracted for 2023.”

Claire Trevett is the NZ Herald’s political editor, based at Parliament in Wellington. She started at the NZ Herald in 2003 and joined the Press Gallery team in 2007. She is a life member of the Parliamentary Press Gallery.