Monday 5th December 2016
|Text too small?|
Prime Minister John Key will step down on Dec. 12, citing the burden the job placed on his family, and said he would support Finance Minister Bill English as his successor if his deputy puts his name forward.
The kiwi dollar dropped on the news that Key, who has maintained persistently high poll ratings as leader, is leaving ahead of next year's general election. It was recently at 70.88 US cents from 71.06 cents earlier.
"Ten years at the top - it's a long time, it's a lot of lonely nights for Bronagh," Key said at a media conference in Wellington. "I felt this was the opportunity for me to do what very few leaders get to do, to transition to a new leader. I really felt I wasn't a career politician."
The National Party caucus is to meet on Dec. 12 to consider a successor. Key said he will vote for English if he is put forward. The NZ Herald reported English is expected to become PM and Steven Joyce to become deputy and finance minister.
By stepping down now, Key will ensure his replacement gets a long run at the election.
No comments yet
Gold Report 21st May 2019
NZ dollar falls after RBA governor flags potential rate cut
ASB reviews ownership of Aegis
Auckland Airport kicks off next phase of expansion
Cashed-up Plexure eyes acquisitions to accelerate growth as loss shrinks
Tower turns to 1H profit, lifts FY guidance
IRD should have doubled claim against Watson's Cullen Group - Professor
Investore FY profit falls 16% on smaller valuation gain, signals flat dividend for 2020
Synlait receives cease and desist letter regarding Pokeno plant
21st May 2019 Morning Report