Peters sets out NZ First’s new election stall leaning into conservatism

Monday, 23 March 2026

OPINION: There was plenty in Winston Peters’ State of the Nation speech that New Zealand has heard before. But buried in the usual lines was something new — and potentially consequential.

There was, of course, the policy announcement — that NZ First would break up the big power companies if it gets back into office. This has been obvious since last year and, indeed, The Post published a story last month with Shane Jones saying as much. But it was the first time Peters himself has explicitly done so — and that adds some weight to the plan. As much as it can for any pre-election promise from NZ First.

The speech was vintage Winston — all the greatest hits. A fair bit on how right he has been on so many issues throughout the years.

Denouncing “neo-liberalism” as the creed of basically every other party — unless, of course, they are cultural Marxists. Whacking all the parties.

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And a lot of whacking the Labour Party in particular. There are many reasons for this. Peters still smarts from being — he believes — deliberately left out in the cold by Jacinda Ardern during the Covid-19 pandemic. NZ First was subsequently drummed out of Parliament.

But there was something else in his speech that was far more interesting — especially for those interested in NZ First Kremlinology.

Three times in the speech, Peters referred to NZ First being on the side of conservatism. In one mention, it was extremely explicit.

“We are the only socially conservative party.”

“Patriotism, social conservatism, egalitarianism. New Zealand First is proud of our country and our history.”

But this was more than just a list in a speech. Peters made the case that NZ First was, in fact, the modern, indigenous conservative party in New Zealand.

“We are the only party in Parliament with modern Kiwi conservative values, and the only party that is willing to make a stand and fight against the insipid, cancerous spread of the left-wing woke agenda.”

Not only that, but:

“Despite all those self-appointed, unelected elitist influencers, a proud egalitarian spirit and a modern Kiwi conservatism is growing in New Zealand today.”

Common sense, Nationalist, patriotism, socially conservative were the taglines on the media wall behind Peters during his press conference after the speech.

This is different. And new for Peters. It isn’t that he has suddenly discovered social conservatism. That is how he has always been, both in belief and political instinct. It is that he has now positioned NZ First as an explicitly conservative party.

The word was used once in last year’s state of the nation. And not at all in 2024.

He also used it to try to appeal to Labour voters.

“For all those conservative, old-school, egalitarian, common sense Labour voters out there who feel abandoned, you’ve only got one place to come — and we welcome you.”

There is nothing about conservatism in NZ First’s party constitution, or in the party’s founding principles.

“Today, New Zealand First is a party that focuses on pragmatism and common sense in the wake of extreme political, ideological and bureaucratic capture of successive governments,” the party’s website says.

So this is a new thing. And for a party that has always prided itself on common sense and pragmatism, if sustained, it will be a step in the direction of ideology.

Not only that, but it is pegging a more traditional political label to what NZ First is. In the past, the party has always been able to occupy the powerful centre of New Zealand politics, because it can go with either side — because it is pragmatic.

Having a Kiwi conservatism does not necessarily mean NZ First cannot go with either major party. But it does line it up far more clearly with one side of politics than the other. And it’s not the political left.

The times suit NZ First. The state is back in a pretty big way. Centre-right parties around the world are struggling to attract voters, and the low-tax, less-regulation message is harder to land in nations facing demographic crunches and running persistent fiscal deficits.

Being “responsible with the money” is a much less compelling pitch when it’s not always true.

The state is also back in other ways. Governments around the world are more inclined to dish out favourable treatment to attract capital. And in the wake of Covid-19, national resilience is back in vogue.

The war in Iran — which has driven up global oil and refined fuel prices — has provided yet another proof point for the NZ First argument. There was no small irony that Finance Minister Nicola Willis was on Sunday giving a press conference at Marsden Point — which used to be an oil refinery and is now just an import terminal.

Its owners closed it during the last term of the Labour Government, and NZ First is now trying to parlay that into an argument for why it has been right about New Zealand self-sufficiency all along. Peters says the Government shouldn’t have allowed it to have been closed.

NZ First sees itself as a 15% party at this election, if all goes according to plan.

And clearly, it now sees a gap in the market: economic nationalism blended with social conservatism — both explicitly so.