Prime Minister thanks Martin McGuinness as he announces retirement

Martin McGuinness has announced he will not contest for the 2017 assembly election.

The Sinn Fein Veteran says he took the decision because of declining health and the current political crisis. 

Prime Minister Theresa May lead tributes to the 66 year old's contribution to politics in Northern Ireland. 

“Martin McGuinness served the people of Northern Ireland as deputy First Minister for nearly a decade. 

“We recognise his work over many years securing a number of significant political agreements.

“He played a key role in moving the Republican movement towards a position of using peaceful and democratic means.

“I want to send him best wishes for his retirement.

"We will all continue to work to make sure that the people of Northern Ireland are able to live freely and in peace."

3 of us in the car crying over Martin McGuinness.

— Gerry Adams (@GerryAdamsSF) January 19, 2017

Mr.McGuinness joined fellow republicans on the streets of Derry tonight and thanked them for their support.

Watch the video below to hear his full speech. 

Mr.McGuinness resigned as Deputy First Minister of Northern Ireland two weeks ago over a botched renewable heating scheme. 

Statement from Rt Hon Arlene Foster on @M_McGuinness_SF retirement pic.twitter.com/eeCwT5YvvU

— Arlene Foster (@DUPleader) January 19, 2017

It could cost taxpayers a predicted £490 million over the next 20 years and precipitated the collapse of powersharing at Stormont.

He also cited Legacy, Marriage Equality and Irish Language issues in his resignation letter. 

He said "After long and careful consideration, I have decided that it is time for a new generation of republicans to lead us into this election and the negotiations that will follow.
 
"Sinn Féin is a party in constant development, renewal and evolution. 
 
"Our struggle for freedom and equality stretches back to the United Ireland movement of the 1790s. I am deeply proud of the democratic influences that Ulster Presbyterianism contributed to the Irish republican tradition.
 
"It remains my own personal and political ambition to break the link with Britain and to unite all who share this island under the common banner of Irish men and women.
 
"I am deeply proud of the generation of Irish republicans that came before us. A generation that kept the vision of freedom alive through the difficult post-partition era when they faced unrelenting repression and persecution from the Ulster Unionist Party in an apartheid Orange state.
 
"I have been privileged to be part of the generation that broke that apartheid state apart and to have been part of a Sinn Féin leadership that delivered peace and radical change. There are more republicans today than at any time in my generation. 

Mr McGuinness said he had intended to stand aside in May, on the 10th anniversary of going into government with the DUP's Ian Paisley.

"On medical advice last year I was advised not to travel to China and in the aftermath of that I underwent a whole series of tests. As a result of those tests I have been diagnosed with a very serious illness which has taken a toll on me.

"But I am being cared for by wonderful doctors and nurses within our national health service and I am very determined to overcome this condition but it is going to take time."

Mr McGuinness said a new candidate to lead the party into the elections will be announced next week.

He added that although his electoral career is now at an end, his political career is not.

"I hopefully will overcome this illness through time. I am very determined to be an ambassador for peace, unity and reconciliation.

"My record of reaching out, whether it be to Queen Elizabeth - and her record of reaching out to me on several occasions - my visits to the Somme, to Flanders field, have not been reciprocated by the DUP and that is a particular disappointment to me."

Northern Ireland Secretary James Brokenshire said: "I thank him on behalf of the Government for his work in securing a number of significant political agreements, as well as his service as deputy first minister of Northern Ireland."

Sinn Fein president Gerry Adams said: "I want to express my heartfelt thanks to Martin McGuinness. He and I first met over 45 years ago behind the barricades in Free Derry and we have been friends and comrades since that time."

He added: "Martin has said he wants to come back and be part of the process to end partition, build reconciliation, unite our people and achieve Irish unity.

"So on behalf of Sinn Fein and republicans everywhere I want to send him our best wishes.

"Give him the space to get better and increase our efforts so that when he returns the process of change has advanced."