The speaker of Ontario's legislature announced on Tuesday he will be leaving politics.

Liberal MPP Steve Peters (Elgin-Middlesex-London) won’t be running for re-election when the province's voters go to the polls in October 2011.

The 48-year-old said he wants to pursue a second career, possibly in education or business.

Peters has been an elected politician for more than two decades. He started as an alderman in St. Thomas, then became mayor.

First elected to the legislature in 1999, Peters joined cabinet after the Liberals formed the government in 2003. He served as minister of agriculture and food before moving to the labour portfolio in 2005.

Peters became speaker in October 2007. He will stay in the position until this term of the legislature ends.

With files from CTV Toronto's Paul Bliss