NZ First leader Winston Peters is set to announce new policy at his party conference on Sunday in Hamilton. Photo / Alex Burton
NZ First leader Winston Peters is set to announce new policy at his party conference on Sunday in Hamilton. Photo / Alex Burton
New Zealand First leader Winston Peters is promising a “major” policy announcement at his party’s annual conference regarding overseas investment that he says will enable “real revenue growth”.
Peters says he will detail the policy, which isn’t outlined in the party’s coalition agreement with National, during his leader’s address on Sunday to close NZ First’s 31st party conference in Hamilton.
While he gave little away, Peters told the Herald the policy concerned overseas investment, attracting wealth and retaining productive people and businesses in order to improve the economy.
“It will be to do with our capacity to fund our future and with the confidence that we can get that money,” he said.
“New Zealand First will be saying ‘we’ve got to do it and we’re going to do it now’.”
Traditionally, NZ First was wary of opening up overseas investment in areas such as housing and agriculture. It was NZ First that led to National abandoning its 2023 election policy to allow foreign buyers into the housing market so they could be taxed.
Winston Peters had led the party to 6% of the vote last election. Photo / Mark Mitchell
Peters argued his party had been supportive of “overseas investment on our terms, not on overseas buy-off”.
Peters spoke of the need to retain New Zealand’s talent within the gaming industry and the value in supporting successful businesses like Rocket Lab.
He said policies like the one he would propose had been implemented in Ireland, Singapore, Iceland and Taiwan.
In May, Peters made similar comments to the Herald about following the example set by Ireland and Singapore regarding changes to personal and company taxation policy that attracted global talent and allowed foreign companies to invest.
Peters confirmed the policy was not outlined specifically in the coalition agreement signed with National, but he argued it fell under the commitment to improve the economy.
While it was unclear how the policy would interact with the coalition agreement, Peters was confident he could “persuade people of the wisdom of it”.
“I can’t imagine there being much opposition,” he said.
“I can honestly believe that there are members of the Labour Party who have got enough brains to work out this is needed as well.”
He hoped to progress the policy before the end of the year and acknowledged it would require new legislation.
NZ First leader Winston Peters greeting party supporters at his annual conference in 2022. Photo / Adam Pearse
Party faithful to be recognised at conference
Aside from the policy announcement, Peters said this weekend’s conference would also be used to thank party members who had worked to see NZ First return to Parliament and into Cabinet.
At the 2022 conference, the Herald reported how the “membership was burnt” after a disastrous 2020 election result that saw the party drop-kicked into the political wilderness.
Now almost a year on from the election that gave NZ First 6% of the vote and eight MPs, including three ministers in Cabinet, Peters wanted to thank members for surviving through what had been a “very difficult environment”.
“I’m going to be spending my time at the beginning, thanking them for their faith, for sticking to it and for being part of the most successful new party in New Zealand’s modern politics.”
He said he had been “seriously encouraged” by the reception he received from members of the public about the party’s return to government.
“I get stopped all over the place by the most unusual people who say: ‘Thanks for you guys getting back’ and they’re serious about it.
“We know that our base support is as strong as we’ve been for a long, long time.”
He claimed the party’s membership had doubled since 2020, but wouldn’t provide specific figures.
NZ First leader Winston Peters speaking at a public meeting at the Remuera Club in Auckland during the 2023 election campaign. Photo / Michael Craig
However, the conference was set to be attended by almost 270 party delegates, the most in at least two decades. Some within the party suspected Sunday’s public meeting could draw a crowd of up to 1000.
Along with his political instincts, Peters had committed financially to seeing the party return after 2020 by providing a $360,000 loan to ensure NZ First stayed afloat.
With the principal of the loan paid back and sitting in the Beehive’s seventh floor as acting Prime Minister with Christopher Luxon overseas, Peters admitted he often felt relieved the effort was worth it.
“It’s one hell of a relief.”
Members would be treated to speeches from several guest speakers including aboriginal Northern Territory senator Jacinta Price, who opposed Australia’s indigenous Voice to Parliament referendum, Save Women’s Sport spokeswoman Ro Edge and First Union general secretary Dennis Maga.
In discussing indigenous rights and gender in sport, Price and Edge would appeal widely to members given the two issues were central to NZ First policy.
Maga’s involvement was understood to be an effort from NZ First to make gains in Labour’s territory as it sought support from working-class voters.
Two long-time NZ First members told the Herald they were happy with what the party had achieved while navigating a three-party coalition with National and Act.
“Because there’s such a big difference between them all, I think they’ve done extraordinarily well,” NZ First Coromandel electorate president Gilbert James said.
“I’m hoping that the effort that they’re putting in and especially the effort between Shane Jones and Winston, that we’ll get some more votes [in 2026].”
While he was pleased by the policy achievements and work from the caucus, James did hold some concern for the demographic of NZ First supporters.
“I think that’s New Zealand First’s problem now is that a lot of the support is very old and we don’t seem to have a system to get new young members.”
Dunedin party member and former candidate Anthony Odering believed NZ First’s leadership had succeeded in restructuring following challenges in the party’s history.
“Like any other party I suppose, we’ve had dissension in the ranks, we’ve had treacherous actions by individuals and I’m very proud that the party has come through with some integrity out of that.
“Considering it’s a balancing act and a three-way coalition, I think they’ve done very well with the policies.”
Party secretary Holly Howard said the party had adjusted well to life in government when challenged with balancing party and parliamentary matters.
She said a key thrust of this weekend’s conference would be to “mobilise” and build towards the 2026 election.
Adam Pearse is a political reporter in the NZ Herald Press Gallery team, based at Parliament. He has worked for NZME since 2018, covering sport and health for the Northern Advocate in Whangārei before moving to the NZ Herald in Auckland, covering Covid-19 and crime.
