Simon Power to stand down as MP

The Hon Simon Power. Photo / Sarah Ivey

High ranked National minister Simon Power has announced he will retire from politics at the November general election.

Mr Power is the MP for Rangitikei and the fourth-ranked Minister in the National Government.

He holds posts as Minister of Justice and Minister of Commerce and has recently been appointed leader of the house while Minister Gerry Brownlee focuses on the Christchurch earthquake recovery.

The decision to step down was to find new challenges and opportunities, he said.

"It's been an exciting and rewarding time and I've achieved a lot, but now I feel it's time to move on to something else."

He said he had discussed his decision with Prime Minister John Key and Deputy Prime Minister Bill English, who were supportive of his move.

"I've thoroughly enjoyed my time as the holder of three warrants in this Government, and am not closing the door on future public roles, but it's time for new challenges."

He was proud of pushing reforms to commerce and financial markets through parliament Leading work on the single economic market with Australia has been particularly enjoyable and rewarding, he said.

"I have also enjoyed using the experience I have gained to refocus state-owned enterprises on better performance, refreshing their commercial boards, and driving the move towards public disclosure regimes that are based on those of publicly listed companies.

- NZHERALD STAFF