​The former Conservative cabinet minister for Labrador who stepped down over illegitimate campaign expenses says he's considering running in the federal election.

Peter Penashue said he's assessing possible support and will confirm by early September if he'll run for the Conservatives.

"I'm of the view that it's going to be a Conservative government in the next election [and] I don't know if you know this but Labrador is very reliant on federal government," Penashue told CBC News Wednesday afternoon, citing 5 Wing Goose Bay, the Innu Nation and the Department of Fisheries and Oceans.

"I think it's very important that we send a member of Parliament to Ottawa who's going to sit on the government side."

Penashue won the party's only victory in the province in 2011 but stepped down over questions about how he funded his campaign.

He lost a subsequent byelection in 2013 to Liberal challenger Yvonne Jones.

Penashue admits he was surprised when he lost the byelection, and thought he would be a "shoo-in because of what I had accomplished in the two years I was there and because I was a cabinet minister."

However, Penashue said he doesn't expect voters to check off his name just because of his experience in Ottawa, if he does decide to run.

Penashue's former official agent Reg Bowers now faces charges under the Canada Elections Act.

"Perhaps the mistake I made — or we all made — was that there was just too much expected of [Bowers] at that time. It was just too much on the table," Penashue said.

Penashue, who made history as the first Innu cabinet minister, is now working as an adviser for a local Innu chief.