Dick Smith won't stand for own party

Danny Rose
AAP
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Dick Smith won't stand for own party

Entrepreneur Dick Smith won't stand as a candidate for the political party carrying his name.

Dick Smith won't stand as a candidate for his own political party.

The entrepreneur, whose name is synonymous with electronics shops and peanut butter in Australia, has registered The Dick Smith Party.

It will target the senate and run on a platform of curbing unnecessary regulation and rampant population growth.

But unlike fellow Australian rich-list member turned political party leader Clive Palmer, Mr Smith has no desire to sit in the federal parliament.

"No. I'm not running," Mr Smith told Fairfax Radio on Thursday.

"(But) I will put all my time into it. I've already got some young people who are interested in having a sustainable population, not a `Big Australia`, and not having ridiculous over-regulation.

"I'm told we'll get someone up."

Mr Smith rejected the idea of forming a political party when approached about a year ago, as he was concerned there were already too many minor parties in the upper house.

He changed his mind in late 2014 after a new regime of light aviation regulations had the effect of "adding millions of dollars to cost with no safety benefit at all".

"I thought what the use of putting in people who are supposed to do something and then do the opposite?" Mr Smith said.

His entrepreneurial interests have made Dick Smith a household name in Australia.

Mr Smith has long campaigned for aviation reform and, more recently, for Australia to have a "sustainable" population.