Peters said he had no confidence in Mr Horan, saying he had seen evidence related to allegations Mr Horan has misused money from his late mother’s bank account.
“I requested from the original complainant and those associated with him evidence to support their allegations,” he told Parliament.
“I also instructed Mr Horan to give every opportunity to resolve this family matter so that I could be assured those allegations were without foundation.
“Until a few days ago, we had not been furnished with any evidentiary material from any of the parties in this dispute. However substantive material has now come into my possession, some as recent as 2.15pm this afternoon.
“The information we have received leaves me in a position where I have no confidence in Mr Horan’s ability to continue as a member of Parliament, and he will be expelled from the NZ First caucus forthwith.”
Mr Horan’s lawyer Paul Mabey, QC, sair Mr Horan was unaware his position within the party was under threat.
In an interview with Radio Live Mr Mabey said Mr Horan had been in frequent contact with his party boss until last night.
“But he had no idea this announcement was being made and he certainly didn’t know that his position in the party was at risk and he doesn’t know what the information Mr Peter has.
“He says he’s got information to justify his decision, which may be true but Brendon Horan doesn’t know what’s behind these allegations. It’s from a family member…but whether that information is true is another matter.”
“Mr Horan’s information is only as good as yours or mine. He goes on what’s in the media – no one’s put an allegation to him directly.”
In a later statement, Mr Mabey said Mr Horan had “no intention” of leaving Parliament, APNZ reported.
“He has no reason to do so. Mr Horan is the subject of unproven allegations which he completely denies. None of the allegations have ever been put to him directly nor has he shown any evidence to support them.”
Outside the House, Mr Peters said he was “bitterly disappointed” at how things had turned out.
“You bust your gut. You make some serious sacrifices and so do hundreds and thousands of others and it’s always a bitterly disappointing moment.”
“But we have got a responsibility to the public of this country, to Parliament and to the party itself.
“My party will be relieved that we have done our duty.”
The NZ First caucus has been briefed on Mr Peters’ findings at it would meet to expel Mr Horan.
Mr Peters would not discuss the details of the information he had, why he had come to his decision, and whether a criminal investigation was warranted,
Another statement from Mr Horan’s lawyers said he rejected any suggestion he had misappropriated money and was confident he would be exonerated.
Once removed from NZ First, Mr Horan does not have to leave parliament.
He can remain as an independent.