Queensland Senator Gerard Rennick has officially left the Liberal National Party (LNP) to establish his own political party, the Gerard Rennick People First Party, ahead of the upcoming federal election.

His resignation, announced recently, aims to refocus public debate on 'bread and butter' issues as the election approaches, which is expected by May 2025.

Rennick plans to register his new party by Monday, ensuring it can appear on the Senate ballot for the upcoming election.

This decision follows a Supreme Court ruling that dismissed his challenge to the LNP's preselection process, where he alleged 'grave irregularities'.

Rennick lost his position on the LNP’s Senate ticket to party treasurer Stuart Fraser during a state conference held in Brisbane last July.

His departure marks him as the fourth Coalition MP or Senator to defect to the crossbench since 2022.

Rennick has expressed pride in prioritizing the needs of the Australian people over his party position, emphasizing the mantra of 'putting the people first'.

He is advocating for significant economic reforms, criticizing major parties for neglecting critical structural issues in the economy.

Rennick argues that current economic structures hinder young people's financial progress, complicating their ability to invest in housing or manage debts.

His platform includes offering more flexibility in areas such as childcare, superannuation, banking, and insurance.

Among his proposals are the establishment of a public bank, an infrastructure bank, and a government insurance bank to improve financial services for Australians.

Rennick aims to introduce inquiries in the Senate on various topics, including raising the tax-free threshold to $40,000 and restructuring childcare support.