Andrew Broad has resigned as assistant minister to the Deputy Prime Minister after a report he had used a "sugar daddy" website to meet a woman 20 years his junior on a taxpayer-funded trip to Hong Kong.

The magazine New Idea quoted a woman named Amy who went by the online identity "Sweet Sophia Rose" who says she was contacted by Mr. Broad, who boasted his intentions were "dishonorable".  She agreed to meet him at a fancy Hong Kong restaurant.

"He told me he was in Hong Kong for a conference but he shouldn't have been here at all," the woman claimed.  "He kept saying that he was very important and that when he left he was going to have to throw away his phone.  He referred to himself as James Bond numerous times."

Ultimately, the young woman said she found him to be a boor and moved on.  But the encounter left her concerned for Australia.

"I don't think someone like that should be in a position of power and making decisions for the country while being so deceiving himself," she told New Idea.  "I think it's pretty strange and risky of him to send me photos of him on the news.  It appears he wanted to show off and told me he was a very important person."

Broad's only response to the story was, "I have been advised that the person making the allegation may have engaged in criminal activity," adding, "This matter has been reported to the Australian Federal Police and I will not be making any further comment."

Deputy Prime Minister and Nationals leader Michael McCormack acknowledged that the news meant there had to be a change in the front bench:  "Mr. Broad will continue as an effective and hardworking Member for Mallee, a role he has capably held since 2013," said McCormack.

The revelations will have untold implications for Andrew Broad, a married MP from regional Victoria who has spoken of his Christian faith.  He was the first coalition MP to call on Barnaby Joyce to resign when it was revealed Joyce had an affair with a staffer.

As for the coalition, Labor treasury spokesman Chris Bowen said that Broad's "resignation does not help the chaos and dysfunction at the heart of the government".