"It’s been an enormous privilege to serve New Zealanders since being elected to Parliament in 1990.

"Over 27 years I have been privileged to work alongside so many people to improve our country. I am proud of the innovative work done as a Health Minister in the 90's, and then as Finance Minister through the GFC, helping to stabilise and grow the economy and to rebuild Christchurch.

"In recent years I enjoyed the development of Social Investment and new ways of the Crown working with Māori to make a real difference, and I was honoured to lead New Zealand as Prime Minister.

"National’s two-day Caucus meeting last week confirmed to me that our team has the talent, the ideas and the energy to return to government in 2020. It’s important that National’s new Leader has the time and the best possible opportunity to achieve that.

"So I believe now is the right time to step aside and to embark on new personal and professional opportunities.

"I’ve served with some outstanding politicians and I want to thank my Parliamentary colleagues and the National Party for the trust and support they have given me.

"I’m also indebted to the people and communities of Clutha-Southland - and before that Wallace - who sent me to Parliament and kept me grounded for so many years.

"To our supporters, thank you for keeping your faith in us through nine years in Government, and through the change of government. I know that our MPs will continue to represent your ambition for New Zealand/

"Most importantly I would like to thank my family. Mary and our children, Luke, Thomas, Maria, Rory, Bart and Xavier.

"For all our time together we have lived with demands of public service. Your strength and tolerance has enabled my career. You have been my inspiration and pride and I now look forward to a new life together.”