The Queensland premier, Annastacia Palaszczuk, has announced she is stepping down as leader and resigning from politics.

Palaszczuk was first elected as premier in 2015, leading Queensland Labor to a victory just one term after the party was reduced to just seven seats.

She became the first woman leader in Australia to be re-elected and led the first majority woman cabinet in Australia.

Palaszczuk will officially step down as premier next week. Her successor – currently a three-way contest between the deputy premier, Steven Miles, Logan based health minister, Shannon Fentiman and Logan based treasurer Cameron Dick – is yet to be decided.

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