Mark Drakeford: Welsh First Minister announces resignation triggering Labour leadership race

In a statement, the Labour politician said: "Good morning to you all. I’m here to tell you that I have today formally notified the chair of the Welsh executive committee of my intention to stand down as Leader of Welsh Labour in March of next year.

"When I stood for the leadership of the Labour Party in Wales, I said that if I were to be elected, I would aim to serve for five years and exactly five years have passed to the day since I was confirmed as First Minister in 2018."

WATCH: Mark Drakeford announces his resignation

He added: "Now nominations for my successor as Welsh Labour leader will open shortly and I am confident that the process can be concluded by the end of the spring term.

"And that will enable the name of the winner of that contest to be put to the Senedd before the Easter recess.

"In the meantime, I will remain as First Minister in the full sense of that job and that’s because we have a very busy few months ahead of us in the Welsh Government and in the Senedd, full of major events and challenges."

Concluding, the outgoing First Minister said: “The next Welsh leader and first minister will I hope have an opportunity which has not come my way, and that is to work with a newly-elected Labour government in London and I will work as hard as I can to see that Labour government elected.”

Commenting on his resignation, Leader of the Welsh Conservatives Andrew RT Davies said: "I wish Mark well as he stands down from the helm.

“While we may have different visions for Wales, I know I'm joined by colleagues in holding a huge amount of respect for his dedication to the job of First Minister.

“It’s important, however, with this announcement that there is no distraction from the really important job of delivering for the people of Wales.

“Labour politicians jockeying for the role of First Minister must not detract from this.”

Sir Keir Starmer said: "On behalf of the whole Labour Party, I pay tribute to Mark Drakeford for an outstanding career.

"Mark has set a clear standard for public service in UK politics, always putting others before himself. During his five years as First Minister, against a backdrop of austerity, instability in Westminster and navigating the pandemic, he has delivered for Wales with steely determination and quiet authority.

"Above all, Mark is a kind and decent man, who lives his Labour values.

"A proud Welshman, Wales too can be proud of Mark, for his fight for working people.

"He’s a true titan of Welsh and Labour politics. It has been a pleasure to work alongside him and we all wish him the very best for his retirement."