Finance Minister Bill English Secures New Zealand Leadership

Finance Minister Bill English was set Thursday to become New Zealand's next prime minister when the last remaining contender for the job pulled out of the race.

Rival and Health Minister Jonathan Coleman conceded defeat and congratulated English after 30 of the ruling center-right National Party's 59-strong Parliamentary caucus publically stated their support for English.

Earlier Thursday, Judith Collins, who holds the Police and Corrections portfolios, withdrew her candidacy and threw her support behind English.

The caucus is expected to officially elect English at a meeting on Dec. 12 when they will also select a new deputy prime minister.

The race for that post, which would open with English's promotion, is being contested so far by Transport Minister Simon Bridges and Climate Change Issues Minister Paula Bennett.

Outgoing Prime Minister John Key had endorsed English in his shock resignation speech on Monday, leading commentators to believe there might be a seamless transition, before the two contenders emerged.

English has reportedly offered Economic Development Minister Steven Joyce the key finance portfolio, should he become prime minister.

However, English declined to discuss policy changes or other Cabinet appointments when he answered questions at a standup press conference broadcast by Radio New Zealand after Coleman's concession.

"I won't be talking about being a prime minister until I am one," said English.