Annastacia Palaszczuk has announced she is stepping down as Queensland Premier. 

Ms Palaszczuk was emotional as she delivered the shock news on Sunday, saying she will serve out the week. 

The outgoing premier said she thought about the option while on holiday and made the final decision at national cabinet.

“I turned my mind to this when I was trying to have a holiday with my partner” she told reporters in Brisbane.

“Finally, last week, my mind was made up at national cabinet. 

“I was sitting there thinking this is the fourth prime minister. There are all these new faces around the cabinet table. We got a great deal for Queensland – $4 billion – and I thought to myself, renewal is a good thing. 

“When I led this party from an opposition of just seven members, I said that the first election will be like climbing Mount Everest. 

“I went on to climb that mountain twice more. I don’t need to do it again,” she said. 

“I have given it my all and I’ve run a marathon.” 

Ms Palaszczuk said she would finish the week as premier with the next premier of Queensland for caucus to decide on Friday.

“Now is the time for me to find out what else life has to offer,” she said.

“I’ve been thinking about it for a while and it’s the right time and it’s time for renewal.”

“I gave it everything but I’ve got to the end of the year, I’ve been to national cabinet, that was the turning point. 

“And I just feel now is the right time. I just absolutely feel it’s the right time. I’ve run this marathon.”