In 1739, Ponsonby entered the Irish House of Commons for Newtownards and was soon aligned to his father's faction, which sought to reduce the influence of Henry Boyle. When Boyle resigned as speaker in 1756, Ponsonby was the only credible alternative and he was elected speaker unopposed.[1] He was re-elected to the chair in 1761 and 1769. He also served as First Commissioner of the Revenue and he became a member of the Privy Council of Ireland in 1746.[3] In 1761, Ponsonby was elected for County Kilkenny and Armagh, and sitting for the former. In 1768, he stood also for Gowran and Newtownards, and in 1776 for Carlow, but chose each time County Kilkenny, which he represented until 1783. Subsequently, Ponsonby was again returned for Newtownards and sat for this constituency until his death in 1787.[1]
Belonging to one of the great families which at this time monopolized the government of Ireland, Ponsonby was one of the principal "undertakers" – men who controlled the whole of the king's business in Ireland. Ponsonby ensured that he, as speaker, had direct input into the business of government. He employed patronage in the Commons to ensure that his supporters remained loyal and used his office to give credence to the growing Irish Patriot sentiment of the 1760s.[1] He retained the chief authority until George Townshend, 1st Marquess Townshend, became lord-lieutenant in 1767. Then followed a struggle for supremacy between the Ponsonby faction and the Dublin Castle administration party dependent on Townshend, which sought to implement a more assertive Irish executive aligned with London's interests.[1] In November 1769, Ponsonby voted in favour of a patriot motion rejecting a privy council money bill, prompting Townshend to dismiss him his role in the revenue. In 1770 he failed to respond to a proposal by Lord Charlemont to coordinate the opposition to Townshend. After Irish MPs voted to express their approval of the king's decision in 1771 to retain Townshend in office, Ponsonby impulsively resigned the speakership.[1][3]
Many of Ponsonby's former allies in the Commons chose to make their peace with the Irish administration, but Ponsonby himself remained in opposition. In 1776 he again stood for election as speaker, but was defeated by the popular incumbent, Edmund Sexton Pery. Ponsonby died, while still a member of parliament, on 16 August 1787.[1]