John Key has announced he is stepping down as Prime Minister.
He made the shock announcement early on Monday afternoon.
Key, who has been Prime Minister since 2008, will remain in the role until Monday, December 12.
NZME are reporting Key’s wife Bronagh asked him to resign.
REALTED: Inside Bronagh Key’s private world.
Caucus will elect a new leader, and Prime Minister, some time before Christmas.
Key will remain in Parliament as the MP for Helensville until the next election, to “avoid the cost and time of a by-election”.
In a press conference, Key said he told his Cabinet of his decision this morning
“This is the hardest decision I’ve ever made and I don’t know what I’ll do next.”
Key said his time as Prime Minister “had come at quite some sacrifice from the people who are dearest to me, my family”, including Bronagh and their children Steffie and Max, who had to “cope with an extraordinary level of intrusion”.
However, Key said he had thoroughly enjoyed the job.
“Simply put for me, it has been the most remarkable and satisfying time of my life.”
Key and Bronagh celebrated their 32nd wedding anniversary earlier this month.
Bill English is expected to take over as Prime Minister and Steven Joyce is expected to take on the finance role.
Key entered Parliament as National’s representative for Helensville in 2002, and was appointed Finance Spokesman for the party in 2004. In 2006, he succeeded Don Brash as party leader.
Key led his party to win elections in 2008, 2011 and 2014.
Politicians from all sides of the House have reacted to the news.
RELATED: John Key opens up about his bullying fears for son Max.
Those outside of politics are weighing in, as well.
