Instead, Mr Maguire admitted how he told Mr Windsor he was ineffectual as a Federal MP, unable to attract equine centre funding, and therefore should contemplate a career change.

Mr Maguire publicly drove a wedge through his long-standing friendship with Mr Windsor.

He also undermined Mr Windsor's claim in Parliament that Mr Anderson and Tamworth-based Nationals Senator Sandy Macdonald had indirectly offered a diplomatic post or "whatever it takes" if he vacated his New England federal seat prior to the election.

"The reality of the meeting at the centre of this controversy, is that Mr Windsor has responded badly to personal comments and criticisms made by me about (him) being ineffectual in his representation of the New England area," Mr Maguire said.

"I, on my own initiative, suggested to Mr Windsor that he ought to reconsider his future options regarding his political career and effectiveness to date.

"The actual comments which will no doubt emerge in time regard personal views expressed to a friend – even though now a past friend."

Mr Maguire told of how he financially supported Mr Windsor's political career.

"That support having been withdrawn before the last election I became an expendable ally despite my long term association and support of Mr Windsor," he said.

He said the most regretful aspect was accepting that politics were put ahead of 10 years of mutual respect and mateship.

The multimillionaire hotel owner said he had nothing to hide and that Mr Windsor was politically opportunistic and had bolstered his own political credibility while seeking to taint the reputation of the Nationals.

He said Mr Windsor was incorrect in saying Mr Anderson attended a meeting at the Powerhouse on May 18, 2004, although he did meet with him five days earlier.

Immediately following Mr Maguire's statement at The Powerhouse, Senator Macdonald called on Mr Windsor to consider resigning from Federal politics.

"He should consider that before the Parliament goes back in a week's time."