Dunne, who was a minister under Labour-led and National-led Governments, said he felt sad that the party was no more.
"But I also look back with considerable pride at what we were able to achieve. You can look at specific policies, but I think the really important thing is that we provided, over a period of 15 years when New Zealand was still experimenting with MMP, stable and reliable Government, and it's fair to say also that that was recognised by successive Prime Ministers.
"We worked constructively, and we didn't grandstand."
He said the decision to disband was the right decision, though he encouraged Light to stay involved in politics.
"I think he's got a huge future."