Ontario Premier Dalton McGuinty is resigning as head of Canada's most populous province just one year after winning a third term, saying it is time for a renewal in leadership.
The province, which accounts for about 40 per cent of Canada's economy, has been battling huge budget deficits and slow growth since its record shortfall of nearly C$25 billion (HK$198 billion) in 2009 during the global recession.
McGuinty will stay on as premier until his Liberal Party finds a successor.
He asked the provincial lieutenant governor to end the legislative session, which means work on all bills will come to an end.
"After 16 years as leader of the Ontario Liberal Party and after nine years as premier, it's time for renewal, it's time for the next Liberal premier," McGuinty said.
Provincial opposition leaders slammed the decision to adjourn the legislature because of several big issues facing the province.