New Zealand prime minister announces shock resignation
John Key says he wants to spend more time with his family but denies his wife gave him an ultimatum to step down
New Zealand Prime Minister John Key unexpectedly announced his resignation on Monday, saying it was the “right time” to leave politics after more than eight years in power.
Key said he had no immediate future plans, but told reporters he would stay in parliament long enough to avoid a by-election for his seat.
“There is no way I could have served out a full fourth term,” Key said at his weekly press conference in Wellington, citing family reasons for his departure. “I think in reality if I served six months or a full-year, I would have inevitably had to look down the barrel of a camera and say ‘I will serve a full three years’. I would therefore have mislead the public and that is not the way of operating.”
Key said that steering the country of 4.7 million through the economic crisis of 2008 and on to relative economic success was a proud accomplishment. He also talked about the importance of standing beside the people of Christchurch after an earthquake in 2011 killed 185 people.
“Simply put, it has, for me, been the most remarkable, satisfying and exciting time of my life,” he said. “But despite the amazing career I have had in politics, I have never seen myself as a career politician. I have certainly never wanted my success in politics to be measured by how long I spent in Parliament.”
But he said the role came with costs.
“For my wife Bronagh, there have been many nights and weekends spent alone, many occasions that were important to her that I simply could not attend,” he said. “My daughter Stephie and my son Max have transitioned from teenagers to young adults while coping with an extraordinary level of intrusion and pressure because of their father’s job.”
He denied his wife had given him an ultimatum.
Key said he believed the mark of a good prime minister was one who led the country in a better position than when he took over office. “Over time others will judge if I’ve done that,” he said. “All I can say is I’ve given it everything I had and left nothing in the tank.”
One of his regrets was not getting the Trans-Pacific Partnership “over the line”, as well as his failed bid to change the flag .
Key, a former foreign exchange dealer who worked at firms including Merrill Lynch, won office for the National Party in 2008, ending the nine-year rule of Labour’s Helen Clark.
He won praise with his stewardship of the NZ$240 billion (US$170 billion) economy in the aftermath of the global financial crisis and two devastating earthquakes around Christchurch.
The National Party caucus will hold a meeting on December 12 to decide the new party leader and prime minister.
Key said he would vote for his deputy and finance minister Bill English to take over.
Additional reporting by Associated Press, The Guardian
