NZ PM John Key resigns

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By Leith van Onselen

Just in via Fairfax:

John Key has resigned as prime minister of New Zealand, in a shock announcement.

He made the decision days after celebrating eight years as Prime MInister and a decade as leader of the National Party.

Mr Key made the announcement at a press conference on Monday.

“I’ve never seen myself as a career politician” he said.

“I’ve never wanted my success to be measured by how long I’ve spent in Parliament.”

He said he would resign on December 12.

According to the live feed, Mr Key said he would support Finance Minister Bill English if he puts his name forward to lead the National Party.

I have met Mr English and found him to be incredibly intelligent and has an excellent policy brain. I believe he would make a sound replacement as New Zealand’s Prime Minister.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.