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BREAKING: NSW Trade Minister Stuart Ayres will resign from cabinet and as deputy Liberal leader in the wake of the John Barilaro job saga. An investigation will now take place into whether Ayres breached the ministerial code of conduct. 9News LATEST:

Former NSW Liberal deputy leader and government minister Stuart Ayres has issued a statement after his overnight resignation.

"Last night, I read a section of the independent review being conducted by Graeme Head. This section is relevant to my role as Minister. It creates a question as to whether I breached the Ministerial Code of Conduct," he said. "In my view, no such breach has occurred. However, I agree it is important that this matter is investigated appropriately and support the premier's decision to do so.

"I have always applied the highest levels of integrity in my conduct as a minister. "To maintain the integrity of the cabinet, I have decided to resign as a minister to allow the investigation to be completed. Accordingly, I will also be resigning as the deputy leader of the Liberal Party. "I believe I have always acted in accordance with the Ministerial Code of Conduct and in the best interests of the people of NSW. I will continue to serve my community as the passionate Member for Penrith."

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