Amy Adams tipped as National Party leader Simon Bridges' pick for finance

Amy Adams was associate finance minister for the last year of the National Government. . Photo / Mark Mitchell

Amy Adams is expected to be named today as the National Party's new finance spokeswoman.

Party leader Simon Bridges said last night he would announce his new finance spokesperson "very soon" and ahead of his wider reshuffle next week.

It is believed Adams has the nod – it will be the first time a woman has held the high-profile portfolio in either National or Labour since Ruth Richardson, who was finance minister in the National Government from 1990 to 1993.

The development comes after former finance minister and spokesman Steven Joyce's decision to retire from Parliament and an admission Bridges had not offered him the finance portfolio again.

Joyce said that was not a factor in his decision to go and it is likely he would have left this term even if he was given it.

Adams was associate finance minister for the last year of the National Government. Adams also did stints as minister of justice, broadcasting, communications, courts, environment, social housing and social investment.

Bridges has said he intends to keep policies relating to social investment, National's programme of using in-depth and often personalised data to target at-risk and vulnerable people for support.

Adams stood against Bridges in the leadership contest and although the voting results are not known, Bridges has said he believed she had strong support.

It is understood finance was Adams' first choice of portfolio if she was not leader – and was her preference over becoming a deputy leader.

Others understood to be keen on the finance portfolio included Judith Collins and Jonathan Coleman.

Richardson delivered what she dubbed the "Mother of All Budgets" including massive cuts to the public sector and reforms which earned the nickname Ruthanasia.