New Zealand PM cites "family reasons" for resignation

New Zealand's Prime Minister John Key unexpectedly announced his resignation on Monday after eight years in office.

At an emotional press conference, Key said he would not seek a fourth term and cited "family reasons" for his surprise resignation.

"Despite the amazing career I have had in politics, I have never seen myself as a career politician," Key said.

"Over the years I have observed many leaders who, in a similar position, fail to take this step. I can understand why. It is a hard job to leave… But, for me and the National Party, this is a good time to go."

Following the news, Bill English, who is both deputy prime minister and finance minister in Key's cabinet, said he is deciding whether to stand for the leadership of the ruling centre-right National Party.

Reactions

​Key's main rival, Labour leader Andrew Little, paid tribute on Twitter to Key's decision.

Australian Prime Minister Malcolm Turnbull tweeted praise for Key.

Former Prime Minister and Labour leader Helen Clark sent her good wishes.

New Zealand's Green Party also paid tribute to Key and said in a statement, "No matter your political allegiance, you have to respect someone who chooses to make the personal sacrifices required to be our country's Prime Minister."

Key's resignation was criticised, however, by the leader of the New Zealand First Party, Winston Peters, who said Key's decision came as no surprise.

"The fact is that the economy is not in the healthy state that the Prime Minister has for so long claimed, and there are other issues which have caused this decision as well," Peters said.

"Contrary to certain perceptions the Prime Minister and his Finance Minister are unable to muddy the waters anymore. The New Zealand public should have been informed of this a long time ago."