Brash took leave on 13 September 2006, to sort out marital troubles. Rumours of an extramarital affair came to the public's attention around this date. The party caucus then preferred Finance Spokesman, John Key, to be prime minister as allegations appeared about Brash having an affair with an Auckland businesswoman,
Diane Foreman.
Resignation During a hastily called press-conference on Thursday 23 November 2006, Brash announced his resignation as the National Party leader, effective from 27 November. Speculation regarding his leadership had foreshadowed this move, and the publicity had had a negative effect on his political party. The publicity came to a head just before the scheduled publication of a book written by
Nicky Hager containing leaked emails (amongst other allegedly damaging revelations). On 16 November 2006 Brash had obtained a High Court injunction prohibiting the distribution or publication of the private emails allegedly unlawfully taken from his computer, following ongoing rumours that his opponents would publish a series of his personal emails as a book, and he confirmed that the police had commenced a criminal investigation into the alleged email-theft. However he claimed he had no awareness of and did not wish to stop the publication of the Hager book. As part of his resignation announcement, Brash also announced he had cleared the way for the book's release by providing lifting the injunction, and stated it had nothing to with his resignation. Brash also claimed that the publication of the book did not contribute to his decision to resign as National Party leader. The book,
The Hollow Men: A Study in the Politics of Deception, details Brash's rise to power in the National Party as assisted by an "informal network of people from the right of New Zealand politics", including a number of
ACT members. It also documents that senior National Party figures, including Brash, knew of the
Exclusive Brethren's pamphlet campaigns in May 2005, although Brash denied knowledge of this until August. On Thursday 30 November 2006, just one week after resigning as leader of the party, Brash resigned from Parliament after the National Party's new parliamentary leader, John Key, declined to offer him a senior portfolio. He set no official date, but he stated he would not return in the new year. Brash then made his valedictory speech on Tuesday 12 December 2006. On 7 February 2007,
Katrina Shanks took his place as a National Party list MP.
Career after national politics On 18 May 2007, Brash joined the
ANZ National Bank board as Rob McLeod retired from the board to return to his accounting practice. He became chairman of Huljich Wealth Management, an independent, specialist
funds-management company based in
Auckland, New Zealand. In late 2008 he was lecturing in economics at the
Auckland University of Technology In April 2009 Brash was appointed as a director of the electricity grid operator Transpower. In late April 2011, Brash, still a National Party member, announced that he would like to lead the
ACT Party, which would require incumbent leader
Rodney Hide to step down. Hide dismissed any talk of a leadership challenge to him but Brash was quoted as saying, "I'd like to say to the board that, under my leadership, I believe Act has a much better prospect of not only getting back into Parliament but having a significant number of MPs."
John Key also would not rule out working with Brash if it came down to a tight decision. Brash chairs the New Zealand subsidiary of the state-owned
Industrial and Commercial Bank of China.
Leadership of the ACT Party On 28 April 2011 the incumbent leader of the ACT Party, Rodney Hide, announced that he was stepping down as leader in favour of Brash who had joined the party that morning. His membership was ratified by the party board on Saturday 30 April and the ACT party parliamentary caucus confirmed him as leader the same day. The party board re-convened later that day to ratify his leadership. Rodney Hide remained in Parliament until its dissolution prior to the 2011 general election. Brash was leader of the party outside Parliament and former
Auckland City mayor
John Banks stood in
Epsom. The
Listener compared Brash's successful bid for the leadership of the ACT Party to a hostile takeover. Brash hoped to get ACT 15% of the party vote in the 2011 election, but it only managed 1%. Brash resigned on election night and was later replaced as leader by John Banks. Brash's 213 day tenure as ACT leader remained the shortest tenure of any major party leader in
modern New Zealand politics until 14 July 2020, when
National Party Leader Todd Muller resigned from the position just 53 days after he was
elected to the position. == Hobson's Pledge ==