"I have decided not to seek a second term as Leader of the Labour Party when my current term expires on October 25th, 2002. Accordingly, I have written to the General Secretary of the Party today informing him of my decision.
I will complete my mandate as Leader with a vigorous campaign during the forthcoming referendum on the enlargement of the European Union.
I have been honoured and proud to be the Leader of the Labour Party, the oldest political party in Ireland and one which has given exceptional service and commitment to the people of Ireland and the Irish State.
The job of leader requires total dedication, which I have given, with the help and assistance of my family over the last five years. But I believe that it is now time to pass on the baton of leadership.
While the last general election may not have brought all the Labour Party would have wished, we did return the second largest Parliamentary Labour Party in our history. I am particularly proud that one third of those elected are women. We have made some progress but there is much more to be done.
I would like, on a personal note, to thank all those who gave to me so much help and support; in particular my wife Liz and family, my parliamentary colleagues, my staff, and all members of the Labour Party throughout the length and breadth of the country.
Finally, I want to thank the people of Dublin South East for their confidence and support over so many years and to say that I will continue to represent them vigorously and enthusiastically in Dail Eireann."