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Embattled speaker Bronwyn Bishop is standing down. Picture: Mark Stewart

Embattled speaker Bronwyn Bishop is standing down. Picture: Mark Stewart Source: News Corp Australia

PRIME Minister Tony Abbott says Bronwyn Bishop will stand down as Speaker of the House of Representatives.

Mr Abbott said there would be a full review of parliamentary entitlements in light of Ms Bishop’s resignation.

The embatted Speaker released a statement saying she had written to the Governor-General and tendered her resignation.

local business chamber

Bronwyn Bishop has tendered her resignation. Picture: Mark Stewart Source: News Corp Australia

“I have not taken this decision lightly, however it is because of my love and respect for the insitution of the Parliament and the Australian people that I have resigned as quitting,” Ms Bishop said.

“I look forward to continuing to serve the people of Mackellar as their local member, the job that has always been my first responsiblity despite other positions I have held within the Parliament.”

The Prime Minister said Ms Bishop had done the right thing by quitting.

Mr Abbott told reporters in Sydney the Government would hold a “root and branch review” of the entitlements system.

“What has become apparent, particularly over the last few days, is that the problem is not any particular individual; the problem is the entitlement system more generally,” he said.

Ms Bishop has been under increasing pressure to stand down after The Herald Sun revealed her $5227 taxpayer-funded chopper ride from Melbourne to Geelong for a Liberal Party function.

It also emerged that she claimed $600 to attend the 2006 wedding of Sophie Mirabella.

It was then revealed that she chartered a $6000 aircraft to attend a function in Nowra. She has also spent more than $260,000 in chaufferd cars and limosuines in recent years.

More to come