Ian Paisley to stand down as leader

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He confirmed his decision to go in May after mounting pressure from within his party in recent weeks to stand aside.

The 81-year-old First Minister, who will remain as an MP and Assembly member, will quit after an investment conference in Belfast organised by the Stormont power-sharing executive.

The veteran unionist leader said: "I came to this decision a few weeks ago when I was thinking very much about the conference and what was going to come after the conference. I thought that it would be a very appropriate time for me to bow out."

Following the announcement Prime Minister Gordon Brown paid tribute to Mr Paisley.

He said: "Ian Paisley has made a huge contribution to political life in Northern Ireland and the United Kingdom. The whole country values and admires the manner in which he has led as First Minister.

"His commitment and dedication to public service deserve our gratitude. Progress on bringing a lasting peace to Northern Ireland would not have been possible without his immense courage and leadership."

DUP deputy leader and Stormont Finance Minister Peter Robinson will be the early favourite to succeed Mr Paisley.

Party sources would also not discount Stormont Economy Minister Nigel Dodds.

Mr Paisley would not be drawn on who would succeed him stating: "This is not the Church of Rome."