Mining magnate and politician Clive Palmers says he won’t run for Senate in the federal election,

In a statement this morning, Mr Palmer announced he would not seek endorsement from his Palmer United Party to stand as a Senate candidate in Queensland.

“There are some excellent people who have nominated to be endorsed to stand for the Palmer United Party in the Senate in Queensland and I am confident the party will continue to play a significant role in Australian political life,” Mr Palmer said.

“Regardless of the party Australians vote for in the House of Representatives at the election, they should vote for Palmer United in the Senate so the Liberals or Labor won’t reintroduce the 2014 Budget.”

In a tweet, Mr Palmer said he is confident “the party will continue to play a significant role in the Australian political life.”

– TiVi Tuan-san