Simon Power to retire from politics at November election

Simon Power to retire from politics at November election

By Jason Krupp

March 2 (BusinessDesk) - Prime Minister John Key will lose a key member of his cabinet after Simon Power, the MP for Rangitikei and fourth-ranked minister in the National-led government, announced he will be retiring from politics at the November election.

Power, who is leaving government for the private sector, currently holds the Justice, Commerce, State-Owned Enterprises portfolios, serves as associate Minister of Finance, leads the Law Commission, and is deputy leader of the House - portfolios he will continue to hold until the election.

"Mr. Power is an outstanding minister and has played a key role in the National-led government," said Key. "I am saddened that he will be retiring from politics at the election and he will be a great loss to National."

Power said he was proud of the reforms he instigated in the commerce sector, the realignment of state-owned enterprises to function more like publically listed companies, and the introduction of tougher reforms in the justice system.

"There is much to do before the end of the year - we've got to get the Financial Markets Authority up and running, make changes to the liquor laws, crack on with work to simplify and speed up the justice system, progress the Single Economic Market agenda, and finish the review of the Securities Act," said Power.

No replacement candidate has been named to stand in Powers' place in the Rangitikei electorate.

(BusinessDesk)

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