Bay of Plenty MP and Minister of Health and State Owned Enterprises Tony Ryall will retire from politics at the next election.

The minister announced his resignation from politics at this year's general election at a press conference at 9.30am today.

Tony Ryall announced his intentions to retire today.

'I am looking forward to being part of New Zealand's dynamic future in the private sector,” says Tony.

The minister has been in Parliament for 24 years, starting as an MP for East Cape in 1990, at the age of 26.

He worked as a young back-bencher, an opposition spokesman and a minister of six portfolios.

'This is the right year for me to leave politics, and I'm up for the next challenge. The Government is doing very well and the National Party is in great heart.

'It has been a huge privilege representing the Bay of Plenty since 1990 and having a senior role in John Key's high-achieving Government. I've greatly enjoyed being in Parliament.”

He told SunLive this morning he wants to use the experience gained as Minister of Health since the National Government took office in 2008 to make a contribution somewhere else.

'Our health services have been transformed with a great effort by clinicians and motivated teams across the sector.

'In 2008, the health system was on track to financial ruin but we've turned that around. My more business-like approach has provided more services and better care for patients within a tight budgetary environment.

'I am particularly proud of achieving record elective surgery, faster cancer treatment, and more effective preventive healthcare for New Zealanders.

'Many people underestimate the importance of the health sector in New Zealand, which amounts to one-tenth of the economy. There are some 70,000 people employed directly in the public health service alone."

Between 1997 and 1999 Tony was at times Minister for State-Owned Enterprises, Minister of Local Government, Minister of Youth Affairs, and Minister of Justice.

During the National Party's time in Opposition, he was law and order spokesman from 1999–2005, commerce spokesman from 2002 – 2003 and health spokesman from 2005–2008.

Since 2008, Tony has served as Minister of Health and again as Minister for State Owned Enterprises. He was Minister of State Services from 2008 to 2011.

'As State Owned Enterprises Minister, it's been a pleasure working with Bill English to oversee the government share offer programme. This has deepened New Zealand's capital markets and to date has generated almost $4 billion to help control debt.

'Across the wider SOE portfolio I've introduced an on-going series of strategic reviews. These enable the Crown and the board of an entity to consider the longer term strategy and future direction of each business. This has already led to significant improvements and will generate further benefits over time.

'There is still a lot of work to do in both my portfolios and I appreciate the Prime Minister allowing me to continue my work in Cabinet until the next election."

Tony says he will focus on the job for the next eight to nine months, and getting the John Key-led National government re-elected before he looks to his future.

Tony is well-known in Parliament for his savvy dress-sense and says although he is retiring from politics, he will not be retiring his array of ties and suits.

"That's been a lot of fun over the last few years, and it's such a great conversation starter that I just don't think that I could give that up,” says Tony today.

The National Party in the Bay of Plenty electorate will be advertising for candidates in the next month, says Tony. His majority in the Bay of Plenty electorate is 17,760.

'It's hoped we will have a new National candidate in place by the middle of May.”

'I also want to thank all the good people, who have voted for me over the years, and in particular the great team who have worked so hard for me in my National Party organisation.”

Prime Minister John Key this morning thanked Tony for his contribution and 'remarkable service” to the National Party and the Bay of Plenty electorate.

'Tony has provided 24 long years of loyal service,'' says the Prime Minister.

'In recent years he has been an extremely effective Minister of Health and Minister of State Owned Enterprises. He has also played an important leadership role among social sector Ministers and made an outstanding contribution on many other fronts.

'Tony will leave the health service in far better shape than he found it back in 2008 and while we are really sad to lose him, we support his decision.

'I particularly would like to thank Kara and family for the enormous support they've given Tony and we wish him the best for his future endeavours.”

The Prime Minister says Tony will remain a minister in all portfolios until he leaves Parliament.

Tauranga MP Simon Bridges says Tony Ryall's retirement is going to be a ‘huge' loss to government and parliament, and also the National Party and locally in the Bay of Plenty.

'He's been the senior national MP in the Bay of Plenty and the central North Island region for a long time now,” says Simon, speaking to SunLive from Washington DC today.

'He was a huge amount of help to me with sage advice and counsel as a young MP, and the BOP seat is one of the highest majority of any seat in New Zealand in the last election. It's been a consistently high vote winner for National and I expect it to be a very highly sought after seat and a very strong contest for wannabe MPs from our region and probably further afield.”

But while Simon has taken onboard a lot of advice from Tony through the years, he says he will not be taking up the departing minister's notorious selection of eye-catching shirt/tie combinations.

'I prefer a plainer shirt and tie combo than he's been hanging out in lately.”