Peters close to stating position

New Zealand First's caucus has been called to Wellington for a special meeting tomorrow to approve a post-election position that is expected to favour neither National nor Labour.

Leader Winston Peters is expected to announce on Wednesday that his party would stay out of coalition but could support either National or Labour if they signed up to specified policy priorities.

The party's positioning has taken on a greater significance since polls showing Mr Peters not only trailing his National rival in Tauranga, Bob Clarkson, but the party falling below the crucial 5 per cent threshold.

A Herald on Sunday poll yesterday put Mr Clarkson eight points ahead of Mr Peters. Chief electoral officer David Henry said he would seek answers about suggestions that Mr Clarkson may have overspent his $20,000 limit through billboards and newspaper advertising paid for by others.