Former prime minister Scott Morrison has announced he will retire from politics at the end of February when federal parliament returns for the year.
In a statement on Facebook, Morrison said he is making the decision in order to "take on new challenges in the global corporate sector and spend more time with my family".
You can read his full Facebook post below.
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In the statement, Morrison said his time in politics had been a great honour.
"I am extremely grateful to my family, friends, local community and local party members and supporters in Cook for their incredible support during this time, that has enabled me to serve my country at the highest level and make Australia a stronger, more secure and more prosperous country," he said.
"It has been a great honour to serve as the member for Cook and as prime minister.
"I also thank my staff and parliamentary colleagues over the years for their friendship and support, especially my deputy leader Josh Frydenberg and deputy PMs Michael McCormack and Barnaby Joyce.
"I also want to wish Peter Dutton and his team all the very best and congratulate him on the great job he has done leading our party and the Coalition since the last election."
In a separate statement, the former PM said he "would be taking up a series of global strategic advisory roles and private boards, focussed on the US and Indo-Pacific".
Morrison has been on the backbench since he led the Coalition to a landslide defeat in the 2022 election.
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He has largely kept a low profile during the term, giving few speeches to parliament outside of an address in May last year rejecting the proposed Indigenous Voice to parliament.
As a backbencher, he has faced criticism over a number of controversies from earlier in his political career.
In late 2022, he became the first former prime minister to be censured after revelations he secretly swore himself into five ministerial portfolios during the pandemic, while last year his role in the Robodebt scheme drew fresh scrutiny following the release of the royal commission.
In both matters, Morrison defended his conduct.
The former prime minister first entered federal parliament as member for the southern Sydney seat of Cook in 2007, before making it into cabinet as immigration minister in 2013 under Tony Abbott.
He then held the social services portfolio before a three-year stint as treasurer when Abbott was replaced by Malcolm Turnbull as PM.
When Turnbull's support within the Liberal Party fell apart in 2018, it was Morrison who won the race to take over as leader, and he led the Coalition to a surprise victory in the 2019 federal election.
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His term as prime minister was defined largely by the COVID-19 pandemic.
National cabinet was created in response to the crisis, and Australia was praised for its low level of infections and deaths, and Jobkeeper and other federal stimuli that helped the economy through the pandemic.
However, the Morrison government was criticised for the delay in obtaining and rolling out COVID-19 vaccines in the second year of the pandemic, and the prime minister faced intense scrutiny for holidaying in Hawaii during the height of the Black Summer bushfires in 2019-20.
His departure from parliament will force a by-election for Cook later this year.
Another by-election for Dunkley, in Melbourne, is scheduled for Saturday, March 2, following the death of Labor MP Peta Murphy last year.
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Morrison is scheduled to release a book covering his religious faith and time as prime minister in May.
Scott Morrison's post on Facebook:
"Just letting you know (especially everyone locally) that after more than 16 years as the Member for Cook, I have decided to leave parliament at the end of February to take on new challenges in the global corporate sector and spend more time with my family.
"I am extremely grateful to my family, friends, local community and local party members and supporters in Cook for their incredible support during this time, that has enabled me to serve my country at the highest level and make Australia a stronger, more secure and more prosperous country.
"It has been a great honour to serve as the Member for Cook and as Prime Minister. I also thank my staff and parliamentary colleagues over the years for their friendship and support, especially my Deputy Leader Josh Frydenberg and Deputy PMs Michael McCormack and Barnaby Joyce.
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"I also want to wish Peter Dutton and his team all the very best and congratulate him on the great job he has done leading our Party and the Coalition since the last election.The Shire and southern Sydney is a great place to live and raise a family.
"I have always worked hard to try and keep it that way as their local member.
"By giving advance notice of my intention to leave parliament at the end of February, this will give my Party ample time to select a great new candidate who I know will do what's best for our community and bring fresh energy and commitment to the job.
"I now look forward to continue to enjoying local life here in the Shire and my church community at Horizon with my family and friends, and as always #upupcronulla.
"I will post a formal statement in the comments below."