"We've got the second longest working hours in the OECD and certainly the economic plan this country's got is not rewarding people, so the least they can do is give them that Monday off on those special days," Mr Peters said.
Act's John Banks was at the opposite end of the scale - expressing a preference for the status quo.
"I know that it will cost small business, which I represent in this Parliament, hard working Mums and Dads that run small businesses, hundreds of millions of dollars," he said.
"I think that the days should fall on the days the days fall on."
Maori Party co-leader Pita Sharples said his party did not have a policy on the issue, but that celebrating Waitangi Day on the day the Treaty was actually signed was "pretty valuable".
"I'm not saying I support it either way, I'm saying there are just things we have to discuss."
Earlier today, Cabinet minister Gerry Brownlee also showed some opposition to the idea of a law change saying the two days were memorial days.
"The idea is that we remember things that occurred on those days, so it seems to me that you would cheapen that remembrance by just tacking them on to any old weekend," he said.
However, the bill is certainly not off the agenda for National, and Prime Minister John Key said the party had had a good discussion about the issue in its caucus meeting today.
"I've asked the Department of Labour to provide us more advice, and I expect to get that in the next week or so," Mr Key said.
"It's a big caucus so there'll always be a range of views, but it's helpful if we can give our caucus absolute accurate information."
Mr Key said the upside of a law change would be giving people an extra holiday.
"People value there holidays, they like to plan around that, for the most part they can rely on the fact they will get a holiday, but obviously on occasion that doesn't occur."
The bill was expected to go before Parliament in about six weeks.
