Entrepreneur Dick Smith is considering contesting the Liberal seat of Mackellar as an independent at the federal election.

It comes as Prime Minister Scott Morrison was yesterday blindsided by the defection of Julia Banks.

The 74-year-old businessman says he’s “fed up with our present major parties”.

Click PLAY  below to hear the full interview

But Mr Smith isn’t entirely optimistic…

“I don’t reckon I’ll get in, I don’t think there’s any chance,” he tells Ben Fordham.

He says he’ll make his decision on whether he’ll run “in the next few weeks”, telling Ben his plan is “to communicate with young people”.